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Foreign Purchases Effect
The phenomenon where changes in domestic prices can influence the demand for foreign and domestically produced goods.
American Price Level
The average of current prices across the entire spectrum of goods and services produced in the United States.
Aggregate Demand
The cumulative request for goods and services in an economy, gauged at a singular comprehensive price level during a designated time span.
Keynesian Economist
An economist who follows the principles of John Maynard Keynes, advocating for government intervention through fiscal and monetary policies to manage economic cycles.
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