Examlex
Which combining form means "curved"?
Nominal GDP
The overall economic output of a country, consisting of all final goods and services produced in a defined period, assessed at prevailing market prices without correction for inflation.
Short-Run Aggregate Supply Curve
The short-run aggregate supply curve represents the relationship between the total supply of goods and services that firms in an economy are willing to produce and sell at different price levels, over a short period.
Recessionary Gap
A situation where an economy's real GDP is lower than its potential GDP, indicating underutilized resources and economic slack.
Price Level
The average of current prices across the entire spectrum of goods and services produced in the economy, often used in economic analysis and policy-making.
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