Examlex
What classification is given to a fracture that fails to heal?
Price Level
An index of the average prices of goods and services throughout an economy, indicating the cost of living or inflation rate.
Expansionary Gap
A situation where the actual level of output in an economy exceeds the full employment level of output, often leading to inflation.
Short-Run
A period in which not all factors of production can vary, allowing for some level of fixed inputs or conditions.
Aggregate Supply Curve
A graphical representation showing the relationship between the overall price level in the economy and the total output produced by firms.
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