What is the total demand for goods and services in an entire economy called?
A) supply and demand
B) aggregate demand
C) consumer demand
D) GDP demand

Question

Quizplus · Accepted Answer

The total demand for goods and services in an entire economy is called aggregate demand. This represents the total amount of goods and services that consumers, businesses, governments, and foreigners are willing to purchase at a given price level.

A) Supply and demand refers to the relationship between the quantity of a good or service that producers are willing to sell and the quantity that consumers are willing to buy at various prices. 
C) Consumer demand refers only to the amount of goods and services that consumers are willing to buy at various prices. 
D) GDP demand is not a commonly used term in economics. GDP refers to the total value of goods and services produced within a country's borders during a specific time period.

What Is the Total Demand for Goods and Services in an Entire