Examlex
In producing Dolly,the first cloned sheep,how many different sheep were involved,either contributing cells or acting as a surrogate mother?
Expansionary Gap
A situation where the actual output in an economy exceeds the potential output, often leading to inflation.
Cost-Push Inflation
Cost-push inflation is caused by an increase in the prices of production inputs like labour and raw materials, leading to decreased supply and increased cost of finished goods.
Potential Output
This refers to the maximum output an economy can produce without leading to inflation, assuming all resources are fully utilized.
Actual Price Level
The Actual Price Level refers to the current general level of prices for goods and services in the economy at a specific point in time.
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