Question
In: Economics
What does aggregation mean in a macroeconomic context?
- What does aggregation mean in a macroeconomic context?
Solutions
Expert Solution
Microeconomics deals with economic behaviors in the individual level and macroeconomics deals with economic behaviors in the aggregate level. So, aggregation refers to how economic activities in the individual level is related to the economic activities at the macro level. For example, the aggregate demand in the macro level is the result of the aggregation of individual demands of each buyer in the entire economy.
Rahul Sunny answered 1 year agoRelated Solutions
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