Examlex
What term means a change in the structure and orientation of cells and reversion to a more primitive form?
Real Wage
The purchasing power of wages, taking into account the impact of inflation on buying capabilities.
Price Level
refers to the average of current prices across the entire spectrum of goods and services produced in the economy.
Short-Run Aggregate Supply
The total supply of goods and services that firms in an economy plan on selling during a short time period, given the current price levels.
Aggregate Output
The total quantity of goods and services produced in an economy over a given period, often considered synonymous with real GDP.
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