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Aggregate Supply
The total supply of goods and services that firms in an economy are willing and able to produce at different price levels during a specific time period.
Automatic Stabilizers
Changes in fiscal policy that stimulate aggregate demand when the economy goes into a recession without policymakers having to take any deliberate action
Budget Deficit
A situation where a government's expenditures exceed its revenues over a specific period of time.
Federal Reserve
The central bank of the United States, responsible for implementing monetary policy, supervising financial institutions, and providing services like clearing checks and distributing currency.
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