Final answer:
The graphical relationship depicted in the question is known as the aggregate supply curve, which shows the various quantities of goods and services that businesses are willing to supply at different price levels.
Step-by-step explanation:
The graphical relationship between the price level and the amount of real GDP that businesses will offer for sale is known as the aggregate supply curve. Unlike the aggregate demand curve, which slopes downwards, indicating that increases in the price level of outputs lead to a lower quantity of total spending, the aggregate supply curve typically slopes upwards. This upward slope signifies that as the price level rises, businesses are willing to supply more output, up to certain limits. It's worth noting that the aggregate supply can shift based on factors such as changes in production costs or technological advancements.
At low price levels, output may be less because firms have little incentive to produce; however, as the price level increases, so does aggregate supply, until the equilibrium in the market is reached. This equilibrium is found at the intersection of the aggregate supply and aggregate demand curves, where the quantity of goods and services demanded equals the quantity supplied, setting the equilibrium level of real GDP and the equilibrium price level.