Question

The overall, or total, supply of a good, service, or resource is the:

A. Aggregate supply
B. Total supply
C. Comprehensive supply
D. Complete supply

Answer 1

Aggregate supply (AS) refers to the total quantity of output (i.e. real GDP) firms will produce and sell. The aggregate supply (AS) curve shows the total quantity of output (i.e. real GDP) that firms will produce and sell at each price level.

Step-by-step explanation:

Aggregate supply (AS) refers to the total quantity of output (i.e. real GDP) firms will produce and sell. The aggregate supply (AS) curve shows the total quantity of output (i.e. real GDP) that firms will produce and sell at each price level.