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In the context of economics, what does the term "aggregate" refer to?
  • a)
    Individual economic units like firms and consumers
  • b)
    The overall behavior of a single firm
  • c)
    The sum total of all economic activity in a region
  • d)
    The combined effect of multiple economic variables
Correct answer is option 'D'. Can you explain this answer?
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In the context of economics, what does the term "aggregate" ...
In the context of economics, the term "aggregate" refers to the combined effect of multiple economic variables or the overall behavior of economic variables at a higher level, such as the economy as a whole.
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In the context of economics, what does the term "aggregate" refer to?a)Individual economic units like firms and consumersb)The overall behavior of a single firmc)The sum total of all economic activity in a regiond)The combined effect of multiple economic variablesCorrect answer is option 'D'. Can you explain this answer?
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