Examlex
How does cultural relativism imply infallibility, the unlikelihood of disagreement, and the impossibility of moral progress?
Price Level
The average of current prices across the entire spectrum of goods and services produced in the economy, often used to measure inflation.
Aggregate Expenditure Line
A graphical representation that shows the total planned expenditure at various levels of national income.
Simple Spending Multiplier
The ratio of a change in output to a change in autonomous spending that initiated the change, representing how spending circulates through an economy.
Marginal Propensity
The portion of additional income that an individual is likely to spend on goods and services instead of saving.
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