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The Brain Carries Out Most of the "Computing" in the Nervous

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The brain carries out most of the "computing" in the nervous system and communicates with the rest of the body through the large bundle of nerves called the


Definitions:

Expansionary Gap

The amount by which actual output in the short run exceeds the economy’s potential output

Recessionary Gap

The amount by which actual output in the short run falls short of the economy’s potential output.

Expected Price Level

The anticipated average price of goods and services in an economy at a given future time, influencing consumer and business behavior.

Actual Price Level

Refers to the current general level of prices for goods and services in the economy, often measured by indices such as the Consumer Price Index (CPI).

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