Examlex
What are the variables on the vertical and horizontal axes of the aggregate supply and demand curve?
Real Output
The total goods and services produced by an economy, measured in constant prices to adjust for inflation, synonymous with real GDP.
Incentives
Something that motivates or encourages an individual or group to perform or act in a certain way.
Savings
The portion of income not spent on current expenditures and set aside for future use.
Investment
The action of dedicating resources such as capital, time, or effort to a particular venture with the expectation of achieving a beneficial return.
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