Economists often use an economic model that reflects the total amount of goods and services required at all possible price levels during a specific period of time. Which term is most often used to describe the information contained in this model?

Abusiness cycle
Bmarket self-regulation
Cmoney demand curve
Daggregate supply and demand

Question

27-01-2016
Biology

Answered

Economists often use an economic model that reflects the total amount of goods and services required at all possible price levels during a specific period of time. Which term is most often used to describe the information contained in this model?

Abusiness cycle
Bmarket self-regulation
Cmoney demand curve
Daggregate supply and demand

Verified Answer :

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The answer is letter
D.

Economists often use
the aggregate supply and demand model to reflect the total amount of goods and
services required at all possible price levels during a specific period. It
reflects the overall price of foods and services in an economy for a given
period and is often illustrated with the supply-demand curve. This shows the
relationship between price levels and quantity of output that a particular firm
is willing to provide to the general public.