Examlex
The heart has four sections known as
Real Wage
The purchasing power of wages, considering the effects of inflation on what can actually be bought with those wages.
Aggregate Demand
Full economic demand for all types of goods and services, calculated at a unified price level throughout a chosen period.
Price Level
The summarised price average of every good and service within the economic domain.
Output Levels
Output levels refer to the quantity of goods and services produced by an economy or firm during a specific period.
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