Examlex
The consumer price index for Macroland consists of only two items: pizzas and soft drinks.In 2011,the base year,the typical consumer purchased 10 pizzas for $5 each and 25 soft drinks for $2 each.In 2012,the typical consumer purchased 15 pizzas for $8 each and 30 soft drinks for $3 each.The consumer price index for 2012 on Macroland equals
Monetary Rule
The money supply may grow at a specified annual percentage rate, generally about 3–4 percent.
Money Supply
The total quantity of money available in the economy at a specific time, including cash, coins, and balances held in checking and savings accounts.
Recessionary Gap
This occurs when equilibrium GDP is less than full-employment GDP.
Aggregate Demand
The total demand for all goods and services within an economy at a given overall price level and in a given time period.
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