Examlex
Key events in the historical development of EMS include all of the following, EXCEPT the:
Economic Growth
An increase in a country's output of goods and services over time, often measured by changes in real GDP.
Allocative Inefficiency
A situation where resources are not distributed optimally, resulting in lost potential for producing welfare or value.
Marginal Cost
The cost incurred by producing one more unit of a good or service.
Marginal Benefit
The added utility or joy gained by consuming an extra unit of a product or service.
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