Examlex
When all prices rise together, there is no change in the overall quantity of goods and services supplied.
Q
Generally denotes quantity in economic and mathematical models, referring to the amount of goods or services.
School of Thought
A particular philosophy or a specific way of thinking that is characteristic of a certain group or period.
Recession
A significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
Velocity of Money
The rate at which money circulates in the economy, typically measured as the ratio of GDP to the national money supply.
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