Question : Aggregate supply refers to __________________.
Option 1: Actual output
Option 2: Desired output
Option 3: Both of the above
Option 4: None of the above
Correct Answer: Desired output
Solution : Aggregate supply refers to only planned production or desired output during a given period of time. It does not refers to actual output. Hence, Option B is correct.
Question : Effective demand refers to that level of aggregate demand which becomes effective because it is equal to aggregate supply.
Question : Aggregate supply = ________________
Question : It refers to a situation where the aggregate demand is equal to aggregate supply at full employment level.
Question : _________________ refers to the situation in aggregate demand is more than the aggregate supply.
Question : Aggregate supply is _ curve
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