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At the beginning of World War II, a rationing system was established in the United States. Ration stamps or cards were issued for a variety of commodities such as canned milk and gasoline. Canned milk was only available to babies and small children. In this example, canned milk was allocated through
Mega Deficits
Extremely large financial shortfalls, often referring to government budgets where expenditures far exceed revenues.
Federal Budget
An estimate of government expenditures and revenues for a specific fiscal year, as determined by the President and Congress in the United States.
Aggregate Demand
The total demand for all goods and services within a particular market or economy.
Aggregate Supply
The total supply of goods and services that firms in a national economy plan on selling during a specific time period.
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