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Aggregate demand is the relationship between the quantity of real GDP demanded and the___________
Inflation
How quickly the average cost of goods and services goes up, resulting in a decrease in the ability to purchase.
Economic Growth
A rise in the output of goods and services in an economy over a certain period, frequently assessed using GDP.
Federal Budget Deficit
The financial situation where the federal government's expenditures exceed its revenues within a given fiscal year.
Recession
A significant decline in economic activity spread across the economy, lasting more than a few months, visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
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