Examlex
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Federal Budget Deficit
The shortfall where the federal government's expenditures exceed its revenues in a given fiscal year.
Recessions
Recessions are periods of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
Aggregate Supply Curve
Represents the total quantity of goods and services that producers in an economy are willing and able to supply at a given overall price level in a given time period.
Price Level
Indicates the overall level of prices for goods and services in an economy at a specific point in time, reflecting the economy's cost of living.
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