Question : Aggregate supply = ________________
Option 1: Consumption
Option 2: National income
Option 3: Both of the above.
Option 4: None of the above.
Correct Answer: National income
Solution : The sum total of factor income i.e., rent, wages, interest and profit at domestic and national level is termed as national income. Supply is equals to national income. Hence, Option B is correct.
Question : Aggregate supply refers to __________________.
Question : Aggregate supply is obtained from _________.
Question : _____________ is used for comparing the national income of different years.
Question : Effective demand refers to that level of aggregate demand which becomes effective because it is equal to aggregate supply.
Question : The main tools of macroeconomics are ___________ and _________.
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