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Liquids and solids expand only slightly when heated, whereas gases expand appreciably when heated. If the gas is not free to expand, its pressure rises when heated. Certain substances may melt, burn, boil, or explode, depending on their composition and structure. Thus, the thermal behavior of a substance is closely related to its structure. Raymond A. Serway, Physics for Scientists and Engineers, 4th ed.
Stagflation
A contraction, or stagnation, of a nation’s output accompanied by inflation in the price level.
Aggregate Demand
The sum of the need for all products and services in an economy at a certain price level during a specific time frame.
Unemployment
The condition of someone of working age who is willing to work, but unable to find employment.
Supply-Side Economics
An economic theory that advocates reducing taxes and regulations to stimulate production and economic growth.
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