Examlex
Hemoglobin contains heme groups that allow it to carry oxygen. How many oxygen molecules can one molecule of hemoglobin carry?
Recession
A period of declining real GDP, accompanied by lower real income and higher unemployment.
Demand
The quantity of a good or service that consumers are willing and able to purchase at various prices over a given period of time.
Income Elasticity
A measurement of how the demand for a good or service changes in response to changes in consumers' income levels.
Recession
A period of economic decline across an economy lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
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