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Inflationary Gap
The difference between the actual level of output in an economy and the output level needed to achieve full employment without inflation.
Budget Surplus
A situation where income or revenues exceed expenditures over a specified period of time.
Aggregate Demand
Aggregate demand represents the total demand for goods and services within an economy at a given overall price level and time period.
John Maynard Keynes
A British scholar in economics whose contributions had a profound impact on how macroeconomics is understood and applied by governments.
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