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While riding on a train,David notices that the trees and telephone poles close to the tracks seem to flash by,while the buildings,trees,and mountains that are farther away seem to move by more slowly.This phenomenon is called_____________
Henry Ford
An American industrialist and founder of the Ford Motor Company, who revolutionized factory production with his assembly-line methods.
Wage-Price Flexibility
The ability of wages and prices to adjust freely in response to changes in supply and demand in the labor and goods markets.
Say's Law
An economic theory that proposes supply creates its own demand, suggesting that producing goods and services will in turn generate sufficient demand for those goods and services.
Paradox Of Thrift
An economic theory suggesting that personal savings can be detrimental to overall economic growth if everyone saves more and spends less, leading to decreased aggregate demand.
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