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Sea water of density 1.03 103 kg/m3 is in streamline flow through a Venturi meter.The pressure difference between the main pipe and the constriction is 20.7 kPa,and the flow velocity in the constriction is 7.32 m/s.The flow velocity in the main pipe is
Say's Law
An economic theory that suggests that supply creates its own demand, meaning that production inherently generates a demand for the goods produced.
Open Economy
An economy linked to the rest of the world through international trade.
Equilibrium GDP
The level of GDP at which total demand for goods and services equals total supply in an economy, indicating a state of economic balance.
Aggregate Demand
The entirety of demand for goods and services within an economy, at a chosen general price level and throughout a specified time period.
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