A diagrammatic representation of the total level of Aggregate Demand that would result from each level of national income. Balance in the economy of a country requires that aggregate demand is equal ...

The total amount of real goods and services that the enterprises in an economy are willing to provide at any given ratio of prices to wages. This can be increased by increasing productivity in a given ...

Get the latest news and market analysis from our in-house experts. Real GDP shows the value of an economy’s output, adjusted for any changes in inflation, interest rates or other factors which could ...

For economists trying to measure the health of an economy, there are a number of similar sounding but slightly different concepts that can confuse those without a background in macroeconomics. Two of ...

A calculation that is made on several records or cells of data. SUM, AVG, MAX, MIN and COUNT are examples of aggregate functions that are used in spreadsheets and database programs. THIS DEFINITION IS ...