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Replacing merit grids with _____ eliminates the link between the pay increase and the employees' salary position in the range and performance rating.
Long-Run Aggregate-Supply Curve
Illustrates the total production of goods and services in an economy at different price levels when input prices fully adjust to changes in the price level.
Expansion
The increase in the scale of production or operation by a company, often involving larger facilities, workforce, and entering new markets.
Aggregate Demand
The all-inclusive demand for products and services within an economic framework, priced at a specific level throughout a determined timeframe.
Long Run
A period during which all factors of production and costs are variable, allowing for full adjustment to changes.
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