543
RCMultiple Choice

Unit Summary — Cumulative exam

Question 543 • Career Explorations - EL3401

What term is used in macroeconomics to describe the total supply and the total demand?

Answer
c
capital
i
inflation
a
aggregate
e
equilibrium

Explanation

In macroeconomics, “aggregate” means the economy-wide total. Aggregate supply is the total amount of goods and services producers are willing to supply, and aggregate demand is the total amount consumers, businesses, and governments want to buy. Therefore, the correct choice is aggregate.

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