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Aggregate Supply in the Economy: Definition and Determinants

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Aggregate supply is defined as the total amount of goods and services that are _____.

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1. Aggregate supply is composed of which of the following?

2. How do technological advancements affect aggregate supply, all else constant? Why?

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About This Quiz & Worksheet

Aggregate supply is an important theory in economics. In this quiz, your knowledge of aggregate supply and the factors that impact it will be assessed.

Quiz & Worksheet Goals

The goal of this quiz is to test your understanding of the following:

  • The definition of aggregate supply
  • What composes aggregate supply
  • What can cause an increase in aggregate supply
  • What can cause a decrease in aggregate supply

Skills Practiced

  • Reading comprehension - draw important information from the related lesson on aggregate supply
  • Defining key concepts - defining main phrases, such as consumer goods and capital goods
  • Information recall - access the knowledge you've gained regarding aggregate supply

Additional Learning

To learn more on this topic, read through the corresponding lesson, Aggregate Supply in the Economy: Definition and Determinants. The aforementioned lesson covers the following objectives:

  • Define aggregate supply
  • Know the goods that compose aggregate supply
  • Recognize determinants that can cause an increase or decrease in aggregate supply
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