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:

Lumbar

Relating to the lower part of the back or the lower spine between the thoracic spine and the sacral region.

Iliac

Pertaining to the ilium, the largest bone of the pelvis.

Hypogastric

Relating to the lower middle region of the abdomen, beneath the umbilical region.

Epithelial

Pertaining to the epithelium, a layer of cells covering the body surfaces, lining cavities and organs, and forming glands.