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Economics

Define the aggregate price level in the macroeconomics.

Aggregate Price Level:

A nominal measure is a measure which has not been adjusted for modifications into prices over time.

A real measure is a measure which has been adjusted for modifications into prices over time.

The modifications in real wages are a superior measure of changes into employees’ purchasing power than the modification into nominal wages. The aggregate price level is the whole level of prices into the economy.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9581458

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