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In the short-run, society faces a tradeoff between inflation and unemployment.
Money Supply
The full amount of economic monetary assets at a specific point in time.
Prices
The amount of money required to purchase a good, service, or asset, acting as a signal in the market to both buyers and sellers.
Aggregate Demand
The total demand for all goods and services in an economy at different price levels during a specific time period.
Aggregate Supply Model
An economic model that represents the total supply of goods and services that firms in an economy are willing and able to produce at a given overall price level.
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