Aggregate supply is the market value of the total quantity of:
A) home production in the economy.
B) goods or services supplied by producers in a single market.
C) intermediate goods supplied in the economy.
D) goods and services supplied in the economy.

Question

Quizplus · Accepted Answer

Aggregate supply refers to the production of all goods and services in the economy. Therefore, the best choice is D, which represents the total amount of goods and services supplied in the economy. The other choices are either too narrow (B) or incorrect (A and C).

Aggregate Supply Is the Market Value of the Total Quantity