Examlex
What are three primary reasons for the growth of international trade over the past 50 years?
Aggregate Supply
The total supply of goods and services that firms in an economy plan on selling during a specific time period at given prices.
Price Level
A measure of the average prices of goods and services in an economy at a given time.
Real GDP
Gross Domestic Product adjusted for inflation, measuring the value of all goods and services produced over a specific time frame.
Aggregate Demand Curve
A visual diagram that illustrates the connection between the total price level within an economy and the aggregate demand for products and services at that specific price level.
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