Examlex
President Roosevelt approved diplomatic recognition of the Soviet government because he ________________.
Equilibrium GDP
Equilibrium GDP is the level of real GDP where aggregate demand equals aggregate supply, indicating a state of economic balance without excess demand or supply.
Inflationary Gap
The difference between the actual output of an economy and the maximum potential output it could achieve with full employment of resources, leading to inflation.
Federal Debt
is the total amount of money that the government of the United States owes to creditors both domestic and foreign.
Government Budget Deficits
The situation where a government's expenditures exceed its revenues, leading to borrowing and increased debt.
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