Examlex
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Aggregate Supply Model
An economic model that represents the total supply of goods and services that firms in an economy are willing and able to produce at a given overall price level.
Government Expenditures
Financial spending by the government which includes spending on goods and services, social welfare, public infrastructure, and defense.
Short Run
A period in economic theory during which at least one input (like capital) is fixed, contrasting with the long run where all factors of production are variable.
Prices
The amount of money expected, required, or given in payment for something.
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