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Boa constrictors have tiny pelvic girdles and leg bones inside their bodies. Because these structures are nonfunctional ʺevolutionary baggage,ʺ they are called
Real GDP
Real Gross Domestic Product measures the value of all final goods and services produced within a country's borders in a specific time period, adjusted for inflation.
Equation of Exchange
An economic formula representing the relationship between the money supply, its velocity, the price level, and the volume of transactions in an economy.
Money Supply
The collected amount of financial resources in an economy at a pointed-out time.
Velocity of Money
The speed at which money circulates from one transaction to another, and the frequency at which a single unit of currency is utilized within a specific timeframe.
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