Examlex
An object is placed 15 cm to the left of a double-convex lens of focal length 20 cm. Where is the image of this object located?
Short Run
A period in economic analysis where at least one factor of production is fixed, leading to limited adjustments in production or operation.
Long-Run Phillips Curve
A graph showing that, in the long term, there is no trade-off between inflation and unemployment, suggesting the relationship is vertical.
Long-Run Aggregate Supply
The total output of goods and services that an economy can produce when it is using all of its resources efficiently and at full employment.
Vertical
In economics, this term typically refers to a market structure where companies provide different, but related, products or services at various stages of production.
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