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What term is used in macroeconomics to describe the total supply and the total demand?

User Jon Hudson
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the term is: aggregate -A
User Tej Chajed
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Answer;

Aggregate

Explanation;

The aggregate demand/aggregate supply model is a model that shows what determines total supply or total demand for the economy and how total demand and total supply interact at the macroeconomic level.

Aggregate supply is the total quantity of output firms will produce and sell—in other words, the real GDP.

Aggregate demand is the amount of total spending on domestic goods and services in an economy.

User Xrisk
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