ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Aggregate demand represents the total demand for these goods and services at any given price level during the specified period.

Detailed explanation-2: -In macroeconomics, aggregate demand (AD) or domestic final demand (DFD) is the total demand for final goods and services in an economy at a given time. It is often called effective demand, though at other times this term is distinguished. This is the demand for the gross domestic product of a country.

Detailed explanation-3: -Aggregate supply is the total quantity of output firms will produce and sell-in other words, the real GDP. Aggregate demand is the amount of total spending on domestic goods and services in an economy.

Detailed explanation-4: -The aggregate demand curve represents the total of consumption, investment, government purchases, and net exports at each price level in any period. It slopes downward because of the wealth effect on consumption, the interest rate effect on investment, and the international trade effect on net exports.

Detailed explanation-5: -Aggregate demand is an economic measurement of the total quantity of finished goods and services that are demanded in an economy. This measurement is expressed as the total amount of money exchanged for those goods and services at a specific price level and point in time.