Examlex
Descriptive statistics are designed to describe statistical significance of a relationship.
Long-Run Aggregate-Supply
The total quantity of goods and services that producers in an economy are willing and able to supply at a full employment level, without any changes in the price level over the long term.
Short Run Aggregate Supply
The total supply of goods and services that businesses in an economy plan on selling during a short time period, assuming that the prices of resources do not change.
Price Level
A mean value of present prices for all goods and services in the economy, indicating the level of inflation or deflation.
Quantity of Output
The total amount of a particular good or service that is produced by a firm or economy.
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