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Two clocks with basic timekeeping mechanisms consisting of (1) a mass on a spring and (2) a simple pendulum are taken to the top of a mountain.At the base of the mountain,they both keep perfect time.At the top of the mountain,
Net Exports
The value of a country's total exports minus its total imports, representing the net trade of goods and services with foreign countries.
Price Level
The price level is an index that measures the average prices of goods and services across an economy, indicative of inflation or deflation.
Aggregate Demand Curve
A curve that shows the quantity of goods and services that households, firms, the government, and customers abroad want to buy at each price level.
Marginal Propensity
The additional amount that consumers are likely to spend out of an additional unit of income.
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