The Average Price of Aggregate Output Is Called the Economy's

question 21

Multiple Choice

The average price of aggregate output is called the economy's _____.

• A) aggregate demand
• B) real GDP
• C) aggregate supply
• D) price level
• E) equilibrium

---

Definitions:

Random Variable

A variable whose numerical value results from a random experiment, characterized by its possible values and associated probabilities.

Discrete Random Variable

A variable that has a countable number of possible values, often representing the outcomes of a categorical process.

Discrete Random Variable

A variable that assumes a countable number of distinct values, often representing counts or categorical data.

Probability Distribution

A mathematical function that calculates the probability of different possible results occurring in an experiment.