Examlex
Assess the validity of the following statement, "democracy in church government led logically to democracy in political government."
Production Possibility Frontier
Describes the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently utilized.
Unemployment Rate
The percentage of the labor force that is jobless and actively looking for employment.
Ppf
Production Possibility Frontier, a curve depicting all maximum output possibilities for two or more goods given a set of inputs.
Capital Goods
Long-term assets used in the production of other goods and services, such as machinery, buildings, and equipment.
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