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Harry Is a Sales Representative Working for a Pharmaceutical Company

question 36

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Harry is a sales representative working for a pharmaceutical company.He achieved 130 percent of his annual sales target for the current financial year.To reward him for his excellent performance,his company made an extra payment as _____.


Definitions:

Aggregate Demand

The full scale of demand for goods and services in an economy, specified by a common price level across a particular timeframe.

Price Level

The average of current prices across the entire spectrum of goods and services produced in the economy, serving as an indicator of inflation or deflation.

Equilibrium Real GDP

The level of Gross Domestic Product where aggregate supply equals aggregate demand, adjusted for inflation.

Aggregate Supply Curve

A graphical representation showing the relationship between the total production of goods and services and the price level for those goods and services.

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