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Short-Run Aggregate Supply
Represents the total supply of goods and services that firms in an economy plan on selling during a short time period, based on the current price level.
Aggregate Demand
The total demand for goods and services within a particular market or economy at a given price level and period.
Equilibrium Output
The level of output where the quantity of goods produced equals the quantity of goods consumed, resulting in a stable economy.
Government Expenditure
The total amount of spending by a government on goods, services, and public works.
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