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What kind of monastic order is the Franciscan order?
Short Run
A period in economics during which at least one factor of production is considered fixed, focusing on immediate effects of changes in demand or supply.
Expansionary Gap
The amount by which actual output in the short run exceeds the economy’s potential output
Recessionary Gap
The amount by which actual output in the short run falls short of the economy’s potential output.
Expected Price Level
The anticipated average price of goods and services in an economy at a given future time, influencing consumer and business behavior.
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