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Figure 10-9
-Refer to Figure 10-9. The overuse of antibiotics leads to the development of antibiotic-resistant diseases. Therefore, the market for antibiotics is shown in
Real GDP
Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced by an economy in a given year, expressed in base-year prices.
Nominal GDP
GDP based on prices prevailing at the time of production.
Price Level
A measure of the average prices of goods and services in an economy at a specific point in time.
Aggregate Demand Curve
A graphical representation showing the relationship between the overall price level in an economy and the total demand for goods and services at that price level.
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