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What are the three properties that denote relative mastery?
Velocity of Money
The rate at which money is exchanged in an economy, often used to measure the health and vigor of economic activity.
Price Level
A calculation of the average cost of goods and services in an economy at a set point in time.
Nominal GDP
The market value of all final goods and services produced within a country in a specific time period, measured using current prices without adjusting for inflation.
Real GDP
Gross Domestic Product adjusted for inflation, measuring the value of all goods and services produced within a country's borders in a specific time period, in real terms.
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