Examlex
The following step occurs first in the process of building an ERD: ____.
Exchange-Rate Effect
The impact of a change in the relative value of a currency on the economy, particularly on foreign exchange rates and international trade.
Monetary Policy
The process by which a central authority, typically a country's central bank, controls the supply of money in the economy, often targeting an inflation rate or interest rate to ensure economic stability and growth.
Fiscal Policy
Fiscal policy involves government adjustments to its spending levels and tax rates to influence a nation's economy, aiming to stimulate growth or curb inflation.
Aggregate Demand
The total demand for all goods and services within a particular market.
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