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Suppose real GDP is equal to potential GDP.Explain what happens if the aggregate demand curve shifts either rightward or leftward.
Production
The process of creating goods and services, involving both the conversion of raw materials into finished products and the creation of value.
Year Ended
The conclusion of a 12-month accounting period, at which financial statements are prepared to summarize the year's transactions.
Direct Materials Used
The cost of raw materials that are directly involved in the production of goods.
Raw Materials
The basic materials and components required at the start of the production process to manufacture goods.
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