Examlex
On a questionnaire, a(n) ________ question is one where the respondent merely checks the appropriate answer from a list of options.
Equilibrium
An equilibrium state in the market where supply meets demand, stabilizing prices as a consequence.
Aggregate Supply
Aggregate supply constitutes the total supply of goods and services produced within an economy at a given overall price level in a specified time period.
Aggregate Demand
Refers to the total demand for goods and services within an economy at a given overall price level and in a given time period.
Full Employment Level
A situation in which all available labor resources are being used in the most economically efficient way, essentially meaning that unemployment is at the lowest possible level without causing inflation.
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