Correct Answer: Price level and real GDP

Solution : The correct answer is (b) Price level and real GDP

The aggregate supply curve shows the relationship between the price level in an economy and the level of real GDP (gross domestic product). It illustrates the quantity of goods and services that firms are willing and able to supply at different price levels. The aggregate supply curve typically has an upward slope, indicating that as the price level increases, firms are generally willing to produce and supply more output.