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Pessimism
Suppose the economy is in long-run equilibrium. Then because of corporate scandal, international tensions, and loss of confidence in policymakers, people become pessimistic regarding the future and retain that level of pessimism for some time.
-Refer to Optimism.Which curve shifts and in which direction?
Firm's Output
The total quantity of goods or services produced by a company within a specified period.
Variable Cost
Costs that vary directly with the level of production or service provision, increasing as production increases and decreasing as production decreases.
Fuel Payments
Money expended to cover the cost of fuel, often in the context of transportation, heating, or energy production.
Total Output
The total quantity of goods or services produced by an economy or a firm within a specific period.
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