Aggregate Supply Expresses the Relationship Between

question 70

Multiple Choice

Aggregate supply expresses the relationship between

• A)the price level in the economy and the aggregate output firms will produce,other things constant
• B)the price level and the aggregate amount people will buy at that price level
• C)the price level and the potential amount of output that could be produced
• D)the quantity of output that will be produced and sold in one year
• E)the actual output and the potential output of the economy

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Definitions:

Operating Segments

Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-maker in deciding how to allocate resources and in assessing performance.

Reportable

Information or data that must be disclosed or submitted as required by law, regulations, or organizational policies.

Reportable Segment

A component of a business that can generate revenues and expenses and is regularly reviewed by the company's chief operating decision-maker for performance assessment.

Operating Segment

A component of a business that engages in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the company’s chief operating decision maker.