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Classical economists believe that recessions are self correcting. In their view, how does the economy correct itself?
Real GDP Per Person
A measure of the economic output of a country per individual adjusted for inflation, reflecting the average living standards.
Productivity
The measure of output per unit of input, reflecting the efficiency with which factors of production are utilized.
Productivity
A measure of the efficiency of production, often expressed as the ratio of outputs to inputs in the production process.
Real GDP Per Person
An economic metric that measures the value of all goods and services produced within a country in a specified period, adjusted for inflation and divided by the population.
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