Examlex
Which of the following shifts the short-run aggregate supply curve?
I. changes in the size of the labor force
II. changes in the money wage rate
Unit of Production
A single complete item or a specified amount of a commodity produced.
Positive Externality
An economic situation where a third party benefits from a transaction or activity they are not directly involved in.
Negative Externality
A cost suffered by a third party due to an economic transaction or activity, without compensation, such as pollution from a factory affecting nearby residents.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning that one person's consumption does not reduce the availability to others, and it's hard to prevent people from using them.
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