Exhibit 10-2
-Aggregate supply describes the relationship between
A)price level and real GDP
B)nominal and real GDP
C)real GDP and the level of production
D)nominal GDP and the level of output
E)the level of output and income

Question

Exhibit 10-2 
-Aggregate supply describes the relationship between
A)price level and real GDP 
B)nominal and real GDP 
C)real GDP and the level of production 
D)nominal GDP and the level of output 
E)the level of output and income

Quizplus · Accepted Answer

Aggregate supply describes the relationship between the price level and real GDP. It shows the amount of goods and services that firms are willing to produce and sell at different price levels.

Exhibit 10-2 -Aggregate Supply Describes the Relationship Between