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Definitions:
Consumption Function
A formula in economics that shows the link between overall consumption and the gross national income.
Price Level
An index that measures the average of prices for goods and services in an economy over a period of time.
Aggregate Expenditure Line
A graphical representation of the total planned spending in an economy at various levels of national income.
Price Level
A measure that reflects the average prices of goods and services in an economy at a specific point in time.
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