Aggregate Supply Refers to the

question 87

Multiple Choice

Aggregate supply refers to the

• A)decisions of firms to decrease inputs in order to produce outputs.
• B)effects of increases in input prices on output.
• C)economy's potential output at each possible labour force.
• D)supply of labour inputs in the economy.
• E)total output of goods and services that firms would like to produce and sell.

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Definitions:

Dependent Variables

Variables in an experiment that are expected to change as a result of manipulations to the independent variable.

Independent Variables

Variables that are manipulated or selected by the researcher to determine their effect on the dependent variable.

MANOVA

Multivariate Analysis of Variance, a statistical test that assesses for differences in multiple dependent variables across one or more factor levels.

Repeated Measures

A study design where the same subjects are tested under different conditions or at different times to assess changes.