Examlex
Explain the wealth effect on aggregate demand. Using the wealth effect, summarize how the GDP changes after an increase in the price level.
Median
The middle value of a data set, which separates the higher half from the lower half of the data set.
Mean
The arithmetic average of a set of numbers, calculated by adding them up and dividing by the number of figures.
Mean
The average value in a set of numbers, calculated by dividing the sum of all values by the count of those values.
Set of Data
A collection of related pieces of information, often numerical, that are used for analysis.
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