Examlex
Which concept refers to prudence or practical wisdom?
Aggregate Demand
The collective need for all products and services in an economy at a specific overall price level during a certain timeframe.
Real GDP
Gross Domestic Product adjusted for inflation, providing a more accurate depiction of an economy's size and how it's growing over time.
Aggregate Demand
The total demand for all goods and services in an economy at a given overall price level and in a given time period.
Keynesians
Economists who follow the theories of John Maynard Keynes, emphasizing the need for government intervention to manage economic cycles.
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