Key concept -> is effective demand -> which means actual demand.
Aggregate supply -> not correct
Aggregate demand -> related but
Effective demand -> correct answer
Perfectly inelastic demand -> not relevant
If the supply of final goods is assumed to be infinitely elastic at constant price over a short period of time, aggregate output is determined solely by the value of aggregate demand. This statement is called _________ Principle.
Verified 13 Jul 2026.
Aggregate supply
Aggregate demand
Effective demand
Perfectly inelastic demand
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