Examlex
When the aggregate supply curve intersects the aggregate demand curve at a level of real GDP that exceeds potential GDP,is there an inflationary gap or a deflationary gap? What adjustments will take place?
$700 Billion Bailout
Refers to the Emergency Economic Stabilization Act of 2008, a U.S. government program to purchase distressed assets from financial institutions to stabilize the economy.
Henry Paulson
A former American banker who served as the Secretary of the Treasury during the critical period of the financial crisis in 2007-2008.
Great Recession
A severe global economic downturn that occurred from late 2007 through mid-2009, marked by significant declines in economic activity and employment.
Retirement
The process of leaving one's job and ceasing to work, typically upon reaching a certain age, often accompanied by receiving pension benefits.
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