Examlex
What two factors affect the legal-institutional environment? Discuss the effect of changes in the
legal-institutional environment on aggregate supply.
Natural Rate
The natural rate is a concept in economics describing conditions where the economy is at equilibrium, with full employment and no inflationary or deflationary pressures.
Aggregate Supply
The aggregate amount of products and services that companies in an economy are prepared and able to offer at a specific general price level during a certain time frame.
Natural Rate
Refers to the equilibrium rate of unemployment or interest where the economy is stable, without accelerating inflation.
Unemployment
The situation in which individuals who are capable of working and actively seeking work are unable to find employment.
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