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Keynesian Approach
A macroeconomic theory that emphasizes the role of government intervention in stabilizing the economy and managing aggregate demand.
Great Depression
A severe worldwide economic downturn that took place during the 1930s, characterized by widespread unemployment, deflation, and a significant decline in economic activity across the globe.
Unemployment
The situation where individuals who are capable of working and are actively seeking work are unable to find employment.
Output
The total amount of goods and services produced by an economy over a certain period of time.
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