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Justine repeats a phrase she has heard older students use at recess.This is an example of:
Government Purchases
Expenditures by the government sector for goods and services that government consumes in providing public services and for public capital that has long-term usage.
Consumption
The total amount of goods and services consumed by households over a specific time period.
Nominal GDP
The total worth of all end products and services made inside a nation over a specified time frame, valued at present-day prices.
Real GDP
Measure of a country's economic output adjusted for price changes (inflation or deflation), representing the value of all goods and services produced over a specific time period at constant prices.
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