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What Is a Giffen Good

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What is a Giffen good?


Definitions:

Government Spending

Expenditures made by the government for its operations, provision of public services, or to stimulate the economy.

Imports

Products and offerings imported from foreign countries for the purpose of being sold.

Government Purchases

Expenditures made by the government for goods and services including infrastructure, public services, and national defense.

GDP

GDP represents the aggregate financial or market worth of all completed products and services generated inside the confines of a nation over a defined timeframe.

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