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Question

______________ refers to the total amount of output which all the firms or producers are willing to produce in an economy.

A
Aggregate supply
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B
Aggregate production
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C
Market supply
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D
Market production
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Solution

The correct option is A Aggregate supply
Aggregate supply refers to the total amount of output which the all producers in the economy are willing to produce and supply in the economy at a certain level of employment given the factor pricing and general price level of the economy.

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