Examlex
All aerobic exercises are calorie burners and all calorie burners are weight reducers. Thus, all aerobic exercises are weight reducers.
Inflationary Gap
Occurs when equilibrium GDP is greater than full-employment GDP.
Equilibrium GDP
The level of Gross Domestic Product where aggregate supply equals aggregate demand, indicating a stable economy with no tendency for change in the price level or output.
Multiplier
Any change in spending (C, I, or G) will set off a chain reaction leading to a multiplied change in GDP. Equation is 1/(1 - MPC).
Federal Budget Deficit
A situation where the government's expenditures exceed its revenues over a specific fiscal period.
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