The total quantity of goods and services produced (or supplied) in an economy in a given period is ?
Correct answer: D. aggregate output
- A. aggregate investment
- B. aggregate expenditure
- C. aggregate demand
- D. aggregate output
Explanation
Aggregate output is the total value or quantity of goods and services produced in an economy during a period. Aggregate demand and expenditure refer to spending, not production itself.
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About Macroeconomics
The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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