Aggregate Supply and Aggregate Demand show the relationship between economic output, (GDP, and price levels in the macro-economy at a given point in time. a. Define the terms 'Aggregate Demand' and 'Aggregate Supply' in your own words.

b. State TWO (2) monetary and TWO (2) fiscal policies that government can adopt, to effect change in Aggregate Demand.

QUESTION 4 [CLO 3] The following table gives the output per day in Canada and Belize in the production of Cars and Phones. Show all workings

Output per hour Cars Phones Canada 30 20 Belize 24 16