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Define the aggregate price level in the macroeconomics.
Aggregate Price Level:
A nominal measure is a measure which has not been adjusted for modifications into prices over time.
A real measure is a measure which has been adjusted for modifications into prices over time.
The modifications in real wages are a superior measure of changes into employees’ purchasing power than the modification into nominal wages. The aggregate price level is the whole level of prices into the economy.
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I want to do few projects on this topic.
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