Examlex
If a tone is reliably paired with a shock then the tone will itself come to elicit a fear response. What name is given to the tone after this process has occurred?
Sticky Prices
Refers to the resistance of prices to change, despite shifts in the broader economy or a product's supply and demand.
Price Level
An index or average that reflects the overall price of goods and services in an economy at a given time, often used to measure inflation or deflation.
Long-Run Aggregate Supply
The Long-Run Aggregate Supply represents the total production of goods and services in an economy at full employment, unaffected by short-term fluctuations.
Recessionary Gap
Occurs when the actual output of an economy is less than the potential output, indicating underutilized resources.
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