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

Biology

Karla Diaz

11 November, 22:40

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

+1

Answers (1)

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Mullins · Answer 1

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.