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Discuss the three major concerns about TV content raised by critics and the replies of the industry.
Expansionary Gap
An economic situation where the actual output exceeds the potential output, often leading to inflation.
Nominal Value of Output
The gross value of all goods and services produced, measured using current prices without adjusting for inflation.
Money Supply
The total amount of monetary assets available in an economy, including cash and deposits.
Price Level
The total economy’s current average pricing for goods and services produced.
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