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When a country imposes an import quota,its
Output
The total amount of goods and services produced by an economic system.
Price Level
An index of the average prices of goods and services in an economy over a given period of time, indicating the cost of living and inflation.
Price Level
A measure of the average price of goods and services in an economy at a given time, often used to discuss inflation or deflation.
Recession
A notable downturn in economic performance affecting the entire economy and persisting for several months.
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