Aggregate Supply Refers to the

question 68

Multiple Choice

Aggregate supply refers to the

• A)effects of increases in input prices on output.
• B)total output firms wish to produce at each price level.
• C)economy's potential output at each possible labour force.
• D)decisions of firms to decrease inputs in order to produce outputs.
• E)supply of labour inputs in the economy.

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Definitions:

Constitution

The basis upon which a state is organized, and the powers of its government defined.

Promissory Note

A financial tool comprising a formal pledge by one entity to compensate another entity with a certain amount of money, which can be requested at any time or on a predefined future date.

Negotiate

To discuss something in an attempt to reach agreement, especially in business or political contexts.

Properly Drawn

A term indicating that a document, especially a legal document, has been prepared correctly and in accordance with all necessary formalities.