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Deflation
A decrease in the general price level of goods and services, often indicating a reduction in the supply of money or credit in the economy.
Stagflation
A situation in an economy where inflation rates are high, economic growth rate slows, and unemployment remains steadily high, presenting a challenge to economic policy.
Aggregate Output
The total value of all goods and services produced in an economy within a specific time period.
Prices
The amount of money required to purchase a good or service, which can fluctuate based on supply and demand dynamics.
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