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?
A. business cycle
B. market self-regulation
C. money demand curve
D. aggregate supply and demand

Question

28-01-2016
Biology

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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?
A. business cycle
B. market self-regulation
C. money demand curve
D. aggregate supply and demand

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taskmasters taskmasters · Answer 1 · 2016-01-28T05:09:31+01:00

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.