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When total expenses exceed total revenues,the result is:
Base Year
A specific year against which economic growth is measured, serving as a standard comparison for other years in index calculations and real values.
Real GDP
Gross Domestic Product adjusted for inflation, reflecting the value of all goods and services produced by an economy in a given year.
Inflation
A measure of the rate at which the general level of prices for goods and services is rising, leading to a decrease in purchasing power.
National Income
The total value of all goods and services produced by a country's residents and businesses, including income from abroad, over a specified period.
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