Examlex
There are many organs and glands of the endocrine system,but which one is the master controller?
Potential Output
The peak level of real GDP that can be maintained in the long run without causing inflation to rise.
Discretionary Fiscal Policy
Government policy involving changes in taxation and spending that are undertaken explicitly to influence economic activity.
Price Level
The econ-wide median price across the complete array of produced goods and services.
Potential Level
The potential level refers to the maximum output that an economy can produce without leading to inflation, considering all factors of production are fully utilized.
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