definitions 0.0 / 5 ? Economicsaggregate supplyASAQA Created by: ellisha mannCreated on: 27-11-13 18:21 the total amount that producers are willing and able to supply at a given price level in a given period of time aggregate supply 1 of 11 output, or production, of a good or service per worker per unit of a factor of production in a given time period productivity 2 of 11 transfer of assets from the public to the private sector privatisation 3 of 11 a situation where aggregate demand equals aggregate supply and real GSP is not changing macroeconomic equilibrium 4 of 11 the movement of spending and income throughout the economy circular flow of income 5 of 11 the services provided by the factors of production factor services 6 of 11 withdrawals of possible spending from the circular flow of income leakages 7 of 11 additions of extra spending into the circular flow of income injections 8 of 11 the process by which any change in a component of aggregate demand results in a greater final change in real GDP multiplier effect 9 of 11 the growth in aggregate demand outstripping the growth in aggregate supple, resulting in inflation overheating 10 of 11 the expected increase in potential output over time trend growth 11 of 11
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