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| Topic: |
Business
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| Number of pages / Number of words: |
6 / 1604 |
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The aggregate output concept is known as the gross domestic product, the GDP. The aggregate demand shows the quantity of demanded goods and services in an economy at the valued market prices. The aggregate income/output measures are uoted in both current prices, nominal terms, and also in constant dollars, real terms...
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The aggregate income/output measures are uoted in both current prices, nominal terms, and also in constant dollars, real terms. The real terms adjust to take inflation into account and re most widely used, because they are not subject to distortions due to change in prices (Sahu, 2008).
Unemployment
Unemployment is the next most important key macroeconomic variable...
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