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If potential output is less than actual output, eventually the short-run aggregate supply curve will shift:
Piecework
A system of employment where the worker is paid a fixed rate for each unit produced or action completed rather than receiving an hourly or salaried wage.
United Mine Workers
A labor union that represents coal miners in the United States, established to improve wages and working conditions.
Looking Backward
A utopian science fiction novel by Edward Bellamy, published in 1888, depicting a future society in the year 2000 characterized by equality and cooperation.
Edward Bellamy
An American author and socialist, most famous for his utopian novel "Looking Backward" (1888), which imagined a future society based on cooperative ownership and the absence of poverty.
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