An economist is analyzing a simplified economy that, in one year, produced 500 identical wooden chairs and 2,000 identical clay pots. In the context of an aggregate economic model, how would the total quantity of 'units of output' (Y) be correctly identified?

Interpreting Aggregate Output

Calculating Nominal Economic Output

If a country's economy produces 10 million cars and 5 million tons of wheat in a year, the aggregate output (Y) for that year is correctly calculated as 15 million units.