Examlex
You are working in a nursing center.Where would you record information about a person's intake and output?
Aggregate Demand
The total demand for all goods and services in an economy at various price levels, over a specific time period.
Expansionary Gap
A situation where the actual output in an economy is higher than the potential output, often leading to inflation.
Potential GDP
The maximum output an economy can achieve when all resources are used efficiently and effectively, without causing inflation.
Cost-Push Inflation
Inflation that occurs when the prices of inputs such as labor and raw materials go up, causing a reduction in the supply of these products.
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