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Suppose the economy is hit by a shock and we observe that the price level has decreased whereas real GDP has increased.We can conclude that this shock was
Complementary Product
A product that adds value to another product when used together, typically enhancing the user's experience or utility.
Demand Curve
A graph showing the relationship between the price of a product and the quantity of the product that consumers are willing and able to purchase at that price.
Substitute Good
A product or service that a consumer can use in place of another to satisfy the same need or desire.
LRMC
Long-Run Marginal Cost, which refers to the change in total production costs that comes from producing one additional unit of a good or service when all inputs are variable.
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