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What Is an Aggregate? How Is It Used in Macroeconomics

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Essay

What is an aggregate? How is it used in macroeconomics? Give two examples of specific aggregates that are used in the study of macroeconomics.


Definitions:

Net Sales

The amount of revenue generated from goods or services sold after deducting returns, allowances for damaged or missing goods, and discounts.

Days In Inventory

A financial ratio that indicates the average number of days a company holds inventory before selling it.

Inventory Turnover

A financial metric that measures the number of times a company sells and replaces its stock of goods during a particular period.

Financial Statements

Official records that detail the financial activities and position of a business, individual, or other entity.

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