The aggregate price level is a measure of the overall level of prices in the economy.

Question

Quizplus · Accepted Answer

The aggregate price level is a summary measure of the prices of goods and services in an economy. It is typically measured using an index such as the Consumer Price Index (CPI) or the Gross Domestic Product (GDP) Deflator. A higher aggregate price level indicates that prices, on average, are higher in the economy, while a lower aggregate price level indicates that prices are lower.

The Aggregate Price Level Is a Measure of the Overall