Examlex
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Aggregate Demand Curve
A graphical representation that shows the inverse relationship between the overall price level and the total output demanded in the economy.
Real GDP
measures the value of all final goods and services produced within a country in a given period, adjusted for inflation.
Nominal GDP
The aggregate value of all end products and services created inside a country during a specific time, calculated in present-day prices.
Nominal Cost
The price of a good or service without adjustment for inflation, representing the current market price.
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