All categories

2 years ago

Aggregate supply is represented as a schedule or curve showing the relationship between the nation's

1 answer:

4 0

Aggregate supply is represented as a schedule or curve showing the relationship between the nation's price level (index) and the amount of real domestic output that firms in the economy produce.

The whole supply of products and services produced within an economy at a specific overall price over a specific time period is known as aggregate supply, also known as total output.

In other words, Aggregate supply is the total amount of items produced over a specified time period at a particular pricing point.

The relationship between price levels and the amount of output that businesses are prepared to produce is depicted by the aggregate supply curve.

Usually, the level of prices and total supply have a positive connection.

Demand growth or decline has the biggest impact on short-term changes in aggregate supply.

New technology or other developments in an industry have the biggest impact on long-term changes in aggregate supply.

Learn more about aggregate supply:

brainly.com/question/18273009

#SPJ1

You might be interested in

Use the model developed in Chapter 3 and assume that consumption does not depend on the interest rate. Holding other things cons

tensa zangetsu [6.8K]

Answer: increases and the interest rate rises.

Explanation:

As a result of the increase in a demand for investment, entities will borrow more money from financial institutions in order to undertake these investments.

Investments will therefore rise as a result. Unfortunately, due to the increase in demand for loanable funds from financial institutions, interest rates will rise as well to show that demand is increasing faster than supply of loanable funds as posited by the law of demand and supply.

3 0

3 years ago

Stan’s Market uses a perpetual inventory system to record the following events involving a recent purchase of inventory: i. On J

vredina [299]

B increase by $117400

6 0

3 years ago

What does it mean to have liability for a company

barxatty [35]

It Means if a worker or anyone gets hurt while working or doing something with your company, you need to pay his debts.

6 0

3 years ago

Read 2 more answers

Alex Smith rents storage space to college students who go home for the summer but do not want to haul all of their property home

Alenkinab [10]

Answer:

d) variability

Explanation:

Variability is the quality of a service that does not follow a fixed, or predictable pattern, following instead a changing (or variable), or unpredictable pattern.

Seasonality is a type of variability that occurs when a business is subject to very rigid time constraints: in some periods of time it booms, and in other periods, it busts.

Alex's business is seasonal because it only becomes profitable during the summer months, while the other three seasons represent a net loss for him.

6 0

3 years ago

A company determined that the budgeted cost of producing a product is $30 per unit. On June 1, there were 80,000 units on hand,

gtnhenbr [62]

Answer:

c) $9,000,000

Explanation:

The cost of good sold = Cost per unit × Quantity sold

Quantity sold = 300,000, cost per unit = $30

The cost of sold = $30 × 300,000 = $9,000,000

This can be confirmed as follows:

Unit

opening inventory 80,000

Production(see note below) 340,000

Available or sale 420,000

Closing inventory (120,000)

Units sold 300,000

Cost of units sold = 300,000 × $30 = $9,000,000

Note :

Production budget = sales budget + closing inventory - opening inventory

= 300,000 + 120,000 - 80,000 = 340,000 units

6 0

3 years ago