The ability of a monetary unit to purchase a given quantity of goods and services on the market; also referred to as purchasing power in older publications. – Aggregate demand: The demand for goods and services in the economy as a whole, as opposed to supply. Purchasing power in this sense is largely determined by the wages and salaries paid out. – See assignats, deflationary spiral, monetary value, monetary stability, inflation, reserve currency, cost-of-living index, savings rate, valorization suit.
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