Question

The Aggregate Supply curve shows Group of answer choices a. the total quantity of output that firms will produce at a given price level. b. the potential output of an economy at a given price level. c. the downward sloping relationship between price level and output for suppliers.

Answer 1

The correct answer is letter "A": the total quantity of output that firms will produce at a given price level.

Step-by-step explanation:

Aggregate Supply is the total supply of goods and services an economy produces in a given period. It is the amount of goods companies plan to sell at given price levels. Essentially, aggregate supply is the relationship between price levels and the number of goods and services an economy produces.