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The figure below shows the determination of the equilibrium price level and real GDP in an aggregate demand-aggregate supply model.The movement shown in this figure is most likely to be caused by:
Figure 10.6
Note Payable
A financial obligation or loan documented by a written promissory note specifying repayment terms, interest rates, and maturity dates.
Overdue Account
A financial account that has not been paid by its due date, thereby incurring late fees or other penalties.
Current Liabilities
Short-term financial obligations due within one year or within the entity's operating cycle, whichever is longer, necessary for the ongoing operations of the business.
Interest Expense
The charge an entity incurs for using borrowed capital over a set period.
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