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Recessions
Periods of economic decline when real GDP falls for two consecutive quarters, indicating a significant reduction in economic activity across the economy.
Inflation Rate
A rate, described in percentages, indicating how prices for various goods and services are climbing, which in turn decreases the value of money.
GDP Deflator
A measure of the level of prices of all new, domestically produced, final goods and services in an economy, used to deflate or adjust the nominal GDP to real GDP.
Intermediate Good
A product used as an input in the production of a final good or service.
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