🎓 IB Exam Prep

Which economic term refers to the total demand for all goods and services produced in an economy at a given overall price level and in a given time period?

A Aggregate Supply
B Gross Domestic Product (GDP)
C Aggregate Demand
D Consumer Price Index (CPI)

✓ Correct Answer: Option C

Aggregate demand represents the total spending on all goods and services in an economy at different price levels over a period of time, comprising consumption, investment, government spending, and net exports.

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