Examlex
Pseudo-specification entails
Stagflation
An economic condition characterized by slow economic growth, high unemployment, and high inflation, occurring simultaneously.
Demand-Management Policies
Strategies used by the government to influence the amount of aggregate demand in the economy, often through fiscal and monetary policies.
Automatic Stabilizers
Economic policies and programs designed to offset fluctuations in a nation's economic activity without additional intervention by the government or policymakers, such as progressive taxes and unemployment benefits.
Real GDP
Stands for Real Gross Domestic Product, which measures the value of all final goods and services produced within a country in a given period, adjusted for inflation.
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