Examlex
What statute in California changed aspects of three-strikes laws by authorizing resentencing for offenders currently serving life sentences for a nonserious or nonviolent third-strike conviction?
Aggregate Supply Curve
Represents the total supply of goods and services that firms in an economy plan on selling during a specific time period, at different price levels.
Classical Long-Run
In economics, it denotes a period where all factors of production and costs are variable, allowing full adjustment to market changes.
Aggregate Supply Curve
A graph that shows the relationship between the overall price level in an economy and the total output produced by firms.
Potential Real GDP
The highest level of gross domestic product (GDP) that could be achieved if an economy operates at full employment.
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