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Aggregate Supply Curve
A curve representing the relationship between the economy’s price level and real GDP supplied per period, with other things constant.
Aggregate Demand Curve
A curve that represents the total demand for goods and services in an economy at various price levels, assuming all other factors remain constant.
Price Level
An index reflecting the mean of current prices for a wide array of products and services in the economy.
Imported Raw Materials
Raw or unprocessed goods brought into a country from abroad for use in manufacturing or production.
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