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Economic Growth and stability cannot be sustained without
Price Level
This refers to the average of current prices across the entire spectrum of goods and services produced in the economy.
Spending Multiplier
The ratio of a change in output (economic activity) to a change in spending, indicating the ripple effect of an initial expenditure through the economy.
Aggregate Demand Curve
A graphical representation of the total demand for goods and services in an economy at various price levels, holding all else constant.
Expansionary Gap
A situation where the actual output in an economy exceeds the potential output, leading to inflationary pressure.
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