7
practice examMultiple Choice

Practice Exam

Question 7 • Personal Finance and Economics

What term is used in macroeconomics to describe the total supply and the total demand?

Answer
A
aggregate
B
inflation
C
equilibrium
D
capital

Explanation

In macroeconomics, aggregate means the total or combined amount across an entire economy. So total supply and total demand are described as aggregate supply and aggregate demand. Equilibrium means a balance between supply and demand, not the term for their totals.

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