Examlex
Do you agree with Thomas Jefferson's assessment that the election of 1800 was a revolution? Explain your answer.
Say's Law
A principle attributed to French economist Jean-Baptiste Say, suggesting that supply creates its own demand, meaning production inherently generates the demand for goods and services.
Consumption
The action or process of using goods and services for personal needs or desires, typically considered as a component of GDP.
Keynes
Refers to John Maynard Keynes, a British economist whose theories on government economic intervention to mitigate the adverse effects of recessions and depressions significantly influenced modern macroeconomics.
Aggregate Demand
The entire market demand for goods and services in an economic setting, priced collectively at a given level during a specified period.
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