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Great Depression
A severe worldwide economic downturn that took place during the 1930s, marked by high unemployment, sharp deflation, and a significant fall in economic output.
GDP
Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.
Government Purchases
Expenditures by the government on goods and services that directly consume economic resources, distinct from transfer payments.
Short Run
A period in economics during which some factors of production are fixed, limiting the ability of the economy or a firm to adjust to changes.
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