Examlex
Testosterone is apparently a very costly hormone for males to produce and use. Why, then, has natural selection resulted in the males of some many species investing in the production and use of this hormone?
Unemployment Rate
The percentage of the labor force that is jobless and actively seeking employment.
Natural Rate
The level of economic activity at which there is no cyclical unemployment; often refers to the natural rate of unemployment where the labor market is in equilibrium.
Socially Optimal
A state of allocation of resources that achieves the best possible outcomes for society as a whole, considering both efficiency and equity.
Short-Run Aggregate-Supply
The total supply of goods and services that firms in an economy plan on selling during a specific time period when some resources (e.g., wages and resource prices) are fixed.
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