What Is Aggregate Output

question 74

Multiple Choice

What is aggregate output?  

• A) the total amount of goods and services produced during a given period in the economy 
• B) only the total amount produced of goods during a given period in the economy 
• C) the relationship between the price level and the quantity of output demanded during a given period in the economy 
• D) the relationship between the price level and the quantity of output supplied during a given period in the economy

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Definitions:

Vision

The faculty or state of being able to see, as well as the perception of the environment and the ability to interpret the surrounding visuals.

Leisure

refers to free time spent away from business, work, domestic chores, and education, as well as necessary activities such as eating and sleeping.

Legitimizing Myths

Beliefs or narratives used to justify and maintain social inequalities or the status quo by presenting them as natural or inevitable.

Inequalities

The condition of lacking equality, particularly in terms of status, rights, and chances.