Aggregate Demand  -  The total demand for goods and services in an economy.

Aggregate Supply  -  The total supply of goods and services in an economy.

Crowding In  -  When government spending induces private investment.

Crowding Out  -  When government spending reduces private investment.

Demand Curve  -  A schedule that relates price to quantity demanded.

Disposable Income  -  Income that may be spent after taxes are subtracted.

Exogenous  -  A change resulting from conditions outside of an economic model.

GDP  -  Gross domestic product is the total value of all goods and services produced within an economy.

Income  -  Money taken in by a system, an individual, a firm, or an economy.

Inflation  -  The year-to-year increase in the price level.

Marginal Propensity to Consume  -  A number that describes the amount of an additional dollar of income that a consumer will spend rather than save.

Money Supply  -  The total amount of currency and demand deposits that exists in an economy.

National Income  -  The total amount of money earned in an economy in a year. C.f. GDP.

Net Exports  -  The difference between exports and imports.

Nominal Interest Rate  -  The cost of borrowing money, unadjusted for inflation.

Nominal Value  -  The value of something in current currency, unadjusted for inflation.

Output  -  The amount of goods and services produced in an economy. This can be in quantity or in currency.

Price Level  -  The overall level of prices within an economy.

Real Exchange Rate  -  The rate that goods and services of one country can be traded for goods and services of another country.

Real Interest Rate  -  The cost of borrowing money, adjusted for inflation.

Real Value  -  The value of something in constant currency, adjusted for inflation.