Economics: Principles & Policy
Economics: Principles & Policy
14th Edition
ISBN: 9781337696326
Author: William J. Baumol; Alan S. Blinder; John L. Solow
Publisher: Cengage Learning
Question
Book Icon
Chapter 21, Problem 1DQ
To determine

Examples for the use of aggregates in daily discussions.

Expert Solution & Answer
Check Mark

Explanation of Solution

The aggregate terms are included in everyday discussions. For example, ‘the country is turning conservative’, football players are faster these days, and the students at this college think the classes should be smaller, and so on. When a person makes a statement that one usually has in mind on an average or a typical member of the larger group, one would not mean that every member of the group fits the statement.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
What does the following mathematical formula explain?
Could I have help understanding how to solve an equation like this?
For the first question (fill in the table), can you give me the formulas for each? Thank you so much.
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
  • Text book image
    MACROECONOMICS
    Economics
    ISBN:9781337794985
    Author:Baumol
    Publisher:CENGAGE L
Text book image
MACROECONOMICS
Economics
ISBN:9781337794985
Author:Baumol
Publisher:CENGAGE L