What is the term for the total amount of domestic goods and services supplied by businesses and the government?

The correct term for the total amount of domestic goods and services supplied by businesses and the government is aggregate supply. Aggregate supply refers to the total supply of goods and services that an economy produces at a given overall price level in a given time period. It encompasses the output produced by all sectors of the economy, including the private sector (businesses) and the public sector (government).

This concept is crucial in understanding how the economy functions, particularly in relation to price levels and output. Aggregate supply can be influenced by various factors, including production costs, technology, and government policies.

In contrast, aggregate demand represents the total amount of goods and services that consumers, businesses, and the government want to buy at different price levels, which is a different concept focusing on demand rather than supply. National output refers to the total output of an economy, which can be synonymous with the gross domestic product (GDP), but it does not specifically emphasize the aspect of supply by businesses and the government. Market supply, on the other hand, typically focuses on the supply of goods and services in individual markets rather than the aggregate level of the entire economy.