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Figure 22.1
Using Figure 22.1, match the following:
-Carina of trachea.
Nominal GDP
The aggregate price of every ultimate good and service generated within a nation over a certain period, valued in the current monetary rates without modifications for inflationary changes.
Hyperinflation
A very high rate of inflation.
Deflation
A decrease in the general price level of goods and services in an economy over a period, often leading to increased purchasing power of the currency.
Inflation
The rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.
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