A Change in the Aggregate Quantity of Goods and Services

question 98

Multiple Choice

A change in the aggregate quantity of goods and services supplied at every price level is called a

• A) change in short-run aggregate supply.
• B) change in long-run aggregate supply.
• C) change in short-run aggregate quantity of output supplied.
• D) determinant of short-run aggregate supply.

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Definitions:

Annuities

Financial products that provide a series of payments over time, often used for retirement savings or income generation.

Compute

To calculate or solve a problem, often using a computer.

Compounded Quarterly

Refers to the calculation of interest on the initial principal and also on the accumulated interest of previous periods of a deposit or loan, performed four times a year.

Present Value

The value today of a future sum of money or series of cash payments, considering a particular interest rate.