Macroeconomic models use abstract concepts such as "price level" and "national income" that are calculated by combining many markets into one.This process is known as
A)analysis and synthesis.
B)integration and derivation.
C)conceptualization.
D)aggregation.

Question

Quizplus · Accepted Answer

The process of combining multiple markets into one to calculate abstract concepts such as price level and national income is known as aggregation. Therefore, the correct answer is D) aggregation.

Macroeconomic Models Use Abstract Concepts Such as "Price Level" and "National