The Idea That Aggregate Demand Fluctuates Due to Irrational Waves

question 2

Short Answer

The idea that aggregate demand fluctuates due to irrational waves of pessimism by households and firms is known as _____.

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Definitions:

Spirilla

A genus of Gram-negative bacteria characterized by their spiral shape and movement through liquid.

Diplococci

Bacteria that form in pairs and are known for causing diseases such as pneumonia and gonorrhea.

Pairs

Sets of two things that are used together or are associated with each other.

Gram Stain

A method of staining that differentiates bacteria according to the chemical composition of their cell walls.