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Explain two purposes of devaluation and revaluation in a fixed exchange rate regime.
Recession
A noticeable drop in economic activity affecting the entire economy, enduring for longer than several months, and commonly observed in metrics such as real GDP, real income, employment, industrial output, and wholesale-retail transactions.
Aggregate Demand
Whole demand for goods and services across an economic landscape, appraised at a given overall price point throughout a defined timeframe.
Household Saving
The portion of a household's disposable income that is not spent on current consumption but is set aside for future use.
Consumption
The use of goods and services by households, constituting one of the primary components of GDP and an important indicator of economic health.
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