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4 Cards in this Set
- Front
- Back
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Aggregate Demand/Supply
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The model that most economists use to explain short run fluctuations in economic activity around its long run trend
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Aggregate Supply Curve
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A curve that shows the quantity of goods and services that firms choose to produce and sell at each price level
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National Rate of Output
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The production of goods and services that an economy achieves in the long run when unemployment is at its normal rate
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Stagflation
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A period of falling output and rising prices
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