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In addition to incorporating values, public servants also exercise power.
Real GDP
Real Gross Domestic Product (Real GDP) is an inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year, providing a more accurate representation of an economy's size and growth rate.
Price Level
A general price average spanning the full range of goods and services in an economy.
Aggregate Supply Curve
A visual depiction that illustrates the overall amount of products and services that producers in an economy can and are willing to offer across various price points.
Aggregate Demand Curve
A curve that shows the total demand for goods and services within an economy at various price levels, typically illustrating an inverse relationship between price level and output demanded.
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