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Why did the United States go to war with Britain in 1812? Which groups of people supported and opposed the war? Why?
Nominal GDP
Nominal GDP is the market value of all final goods and services produced within a country in a given period, measured in current prices.
Aggregate Output
The total value of all goods and services produced in an economy over a specific time period.
Aggregate Supply
The total supply of goods and services that firms in an economy plan on selling during a specific time period at given prices.
Price Level
A measure of the average prices of goods and services in an economy at a given time.
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