Examlex
Why do economists care about aggregate expenditure?
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Efficiency Losses
The reduction in economic efficiency due to imbalances or distortions in the market, often manifesting as excess or insufficient production and consumption.
Output Level
The quantity of goods or services produced by a firm or economy in a given period.
External Benefits
Positive effects of a product or service that are enjoyed by people other than those who directly use or consume the product or service.
Private Benefits
The direct advantages or gains accruing to an individual or organization from their economic actions, excluding wider societal impacts.
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