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"Democracy" means "a form of government in which the supreme power is vested in the people and exercised directly by them or by their elected agents under a free electoral system."
Our particular federal constitutional republic is a democracy, as are all major European constitutional monarchies (although I'm not sure of the status of Vatican City). None of them are a "Pure Democracy," of course.
Although you could certainly have a federal constitutional republic or a constitutional monarch that was not a democracy, or not much of a democracy.
A state in which only people with a net worth exceeding $1 million could vote could still be a federal constitutional republic, although I would tend not to call it a democracy.
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