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Facts and Figures Obtained by Watching, Either Mechanically or in Person

question 236

Multiple Choice

Facts and figures obtained by watching, either mechanically or in person, how people actually behave are referred to as ________ data.


Definitions:

Price Level

A measure of the average prices of goods and services in an economy at a given time, often used to evaluate inflation or deflation.

Aggregate Output

The total quantity of goods and services produced in an economy at a given overall price level in a given period.

Aggregate Supply

The overall provision of goods and services that businesses in an economic setup aim to sell during a certain period.

Economic Expansion

A period characterized by increased business activity and growth in the economy's overall output.

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