Define aggregate demand. (1 point)
• Aggregate demand is the total demand in the system.
• Aggregate demand is the amount of quantity demanded for a product that exceeds the current quantity supplied of that product.
• Aggregate demand occurs when a previously high-demand item has already been purchased by most consumers, and quantity demanded drops to zero or near-zero.
• Aggregate demand occurs when quantity supplied exceeds quantity demanded and is found by subtraction.