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If title to merchandise purchases passes to the buyer when the goods are shipped from the seller, the terms are
Real GDP
The measure of the value of economic output adjusted for price changes (inflation or deflation), reflecting the real volume of production.
Price Level
The overall price mean for each and every product and service in the economic sector.
Aggregate Supply Curve
A graphical representation showing the relationship between the overall price level in an economy and the total output produced by firms at that price level.
Aggregate Demand
Aggregate demand represents the total demand for all goods and services in an economy at a given overall price level and in a given time period.
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