When economists use market values to aggregate output,they sum the
A) number of items produced.
B) quantity of items produced.
C) price multiplied by the quantity of items produced.
D) social value of items produced.
E) amount of each item produced.

Question

Quizplus · Accepted Answer

When economists use market values to aggregate output, they use the price multiplied by the quantity of items produced. This is because in a market economy, the price of a good or service reflects its value to society. Therefore, by multiplying the price by the quantity produced, economists can get a measure of the total value of output in an economy.

When Economists Use Market Values to Aggregate Output,they Sum the