Examlex
The average tax rate is defined as
Equilibrium GDP
The level of gross domestic product at which aggregate supply equals aggregate demand, indicating a balance in the economy without any external pressures to change.
Full Employment GDP
The maximum level of output (GDP) an economy can achieve when utilizing all its resources fully and efficiently, without triggering inflation.
Fiscal Policy
Government policies related to taxation and spending to influence the economy.
Money Supply
The entire pool of financial assets in an economy, taking into account cash, coins, and all balances in checking and savings accounts, at a certain timeframe.
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