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Describe HVAC schedules and their importance.
Aggregate Supply
The total supply of goods and services that firms in an economy plan on selling during a specific time period at given prices.
Price Level
A measure of the average prices of goods and services in an economy at a given time.
Real GDP
Gross Domestic Product adjusted for inflation, measuring the value of all goods and services produced over a specific time frame.
Aggregate Demand Curve
A visual diagram that illustrates the connection between the total price level within an economy and the aggregate demand for products and services at that specific price level.
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