Examlex
Describe dialectical theory,and name and describe the three dialectical tensions.
Price Level
Refers to the average of all current prices for goods and services in an economy.
Aggregate Quantity
The total amount, sum, or volume of goods or services produced or supplied in an economy at a given overall price level and time.
Keynesian Analysis
This approach focuses on the total spending in the economy and its effects on output and inflation, as per the theories of economist John Maynard Keynes.
Macroeconomic Equilibrium
A state in which aggregate supply equals aggregate demand, leading to an economy operating at its full capacity.
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