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As discussed in the Chapter opening case,magnetic stripes are an old technology that is vulnerable to counterfeit and theft.
Aggregate Supply Curve
A graphical representation of the relationship between the overall price level and the total output produced by an economy.
Aggregate Demand Curve
A graph showing the relationship between the total demand for goods and services and the overall price level in the economy, all else being equal.
Real GDP
Gross Domestic Product adjusted for inflation, providing a more accurate reflection of an economy’s size and growth rate.
Aggregate Supply Curve
A graphical representation showing the relationship between the overall price level in an economy and the total output produced by that economy at various price levels.
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