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When demand is elastic:
GDP
Gross Domestic Product (GDP) measures the total monetary value of all goods and services produced over a specific time period within a country's borders.
Social Security
A government program that provides financial assistance to individuals during retirement, disability, or upon the occurrence of other social risks.
Italian Sports Car
High-performance automobiles produced in Italy known for their luxurious design, speed, and precision engineering.
Domestically Produced Tools
Tools and equipment that are manufactured within a country's borders, typically used to refer to products made using domestic labor and resources.
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