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Response time is affected by the____.
Equilibrium GDP
The level of Gross Domestic Product where aggregate supply equals aggregate demand within an economy.
Full Employment GDP
The output level of an economy when all available resources are employed efficiently, corresponding to a situation with no cyclical unemployment.
Classical Range
In economics, refers to the level of output where all resources are fully employed, and prices are flexible, historically associated with the Classical theory of economics.
Savings
Money that is set aside from disposable income or after personal expenses have been covered, often put into a deposit or an investment for future use.
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