Name Economics Guided Reading Activity LP 9 Day 11 Fiscal Policy Lesson 3 Macroeconomic Equilibrium Review Questions Directions: Read each main idea and answer the questions below. Refer to your textbook as you write the answers A. Aggregate Supply Main Idea: Aggregate supply is the total value of goods and services that all firms would produce in a given period of time, at various price levels. 1. How is aggregate supply related to macroeconomics? 2. What causes aggregate supply to rise and fall? Aggregate Demand Main Idea: Aggregate demand is the total value of all goods and services that would be bought at different price levels. 1. Why is aggregate demand a concept and not a concrete number