Examlex
Suppose the price of good x falls and the consumption of good x increases.From this we can infer that
GDP
Gross Domestic Product, the total value of all goods and services produced within a country's borders in a specific time period.
Real GDP
Gross Domestic Product adjusted for inflation, which measures the value of goods and services produced by a country in a year in real terms.
Standard of Living
The measure of affluence, luxury, tangible assets, and vital provisions offered to a chosen demographic or geographical zone.
1965 Ford Mustang
A model of car produced by Ford, marking the first year of production for the Mustang, one of the most iconic American sports cars.
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