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A sound wave in air has an intensity of 1.00 × 10−3 W/m2. The density of air is 1.29 kg/m3 and the speed of sound in air is 331 m/s. The pressure amplitude of the sound wave is
Equilibrium GDP
The level of Gross Domestic Product (GDP) at which aggregate supply equals aggregate demand.
Full Employment GDP
The total market value of all final goods and services produced at a time when all available resources are fully employed.
Automatic Stabilizers
Economic policies and programs designed to offset fluctuations in a nation's economic activity without intervention by the government or policymakers.
Business Cycle
The fluctuating levels of economic activity over time, including periods of expansion, peak, recession, trough, and recovery.
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