Examlex
What do we call the ability to actualize one's own will even in the face of resistance?
Price Level
An assessment of the standard prices of goods and services in an economy at a particular moment.
Real GDP
The total value of all goods and services produced by a country, adjusted for inflation or deflation.
Expansionary Gap
A situation in macroeconomics when aggregate output is above potential output, often leading to inflationary pressures.
Recessionary Gap
Describes a situation where the real GDP of an economy is less than its potential GDP, indicating underutilized resources and a sluggish economy.
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