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Talk about:
-Reform Act of 1884
Capital Stock
The total amount of physical, human, and intellectual capital that a country possesses at any given time.
Beneficial Supply Shock
An unexpected event that increases the production capacity and decreases the prices of goods and services.
Potential Output
The maximum sustainable level of real GDP over the long term that does not lead to an increase in inflation.
Price Level
This term refers to the average of current prices across the entire spectrum of goods and services produced in the economy.
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