AGGREGATE OUTPUT: The macroeconomy's total production of final goods and services. You might recognized it by it's official term gross domestic product. Another related term is aggregate supply. This is the total production in the economy that is purchased by the four basic economic sectors -- household, business, government, and foreign. See also aggregate market, aggregate demand, aggregate expenditures.

     See also | gross domestic product | production | final goods | real production | aggregate supply | aggregate demand | aggregate market | aggregate expenditures | consumption expenditures | investment expenditures | government purchases | net exports | household sector | business sector | government sector | foreign sector | price level | macroeconomics |

AGGREGATE OUTPUT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: June 27, 2022].

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The four key assumptions underlying production possibilities analysis are: (1) resources are used to produce one or both of only two goods, (2) the quantities of the resources do not change, (3) technology and production techniques do not change, and (4) resources are used in a technically efficient way.

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Today, you are likely to spend a great deal of time searching for a specialty store seeking to buy either looseleaf notebook paper or a three-hole paper punch. Be on the lookout for cardboard boxes.
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