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Nominal GDP can never be equal to real GDP.
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Ideas that are clear, specific, and often based on tangible or observable phenomena.
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Cognitive structures that help individuals organize and interpret information from the world around them, based on prior knowledge and experience.
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Figures of speech that describe an object or action in terms that are not literally applicable, but imply a resemblance, to help convey meanings or understanding.
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An idea or thought that is not tied to a specific tangible object or situation, often complex and not immediately understood.
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Q217: A recessionary gap exists when:<br>A)aggregate demand exceeds