Question : _________________________ refers to the money value of final goods and services that all the producers are willing to supply in an economy in a given period of time. 
 

Option 1: Aggregate demand 
 

Option 2: Aggregate supply 
 

Option 3: Market demand 
 

Option 4: Market supply 
 

Question : The term "aggregate demand" refers to the total demand for:

Option 1: Individual goods and services
   

Option 2: All goods and services in an economy
 

Option 3: Imports and exports

Option 4: Government expenditure

Question : ____________ refers to the total expenditure incurred by households on purchase of goods and services during an accounting year.
 

Option 1: Private final consumption expenditure.
 

Option 2: Government final consumption expenditure.
 

Option 3: Investment expenditure.
 

Option 4: Net exports
 

Question : ____________ refers to the total expenditure incurred by government on consumer goods and capital goods to satisfy the common needs of the economy.
 

Option 1: Private final consumption expenditure.
 

Option 2: Government final consumption expenditure.
 

Option 3: Investment expenditure.
 

Option 4: Net exports
 

Question : According to this approach, the equilibrium level of income in an economy is determined where aggregate demand is equal to aggregate supply.
 

Option 1: Aggregate demand and aggregate supply approach
 

Option 2: Savings and investment approach
 

Option 3: Both A and B
 

Option 4: Neither A nor B.