Examlex
A favorable balance of trade occurs when the value of a country's exports exceeds the value of its exports.
Aggregate Demand Curve
A curve that shows the relationship between the overall price level and total demand for goods and services in an economy.
Aggregate Supply Curve
A graphical representation showing the total supply of goods and services that companies in an economy are willing and able to produce at different price levels, over a specific time period.
Wealth of Consumers
The total value of all assets owned by consumers minus any liabilities; it reflects the economic resources available to consumers.
Aggregate Supply Curve
A graphical representation of the relationship between the overall price level and the total output produced by an economy.
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