Examlex
What do sociologists call the lessons that students learn indirectly but which they are not officially or formally tested on?
Potential GDP
Potential GDP refers to the maximum output an economy can produce without triggering inflation, if all resources are fully employed.
Full-employment GDP
Full-employment GDP is the maximum potential output an economy can produce when all resources, including labor, are fully utilized without causing inflation.
Capitalist Economy
A financial system where capital goods are owned by individuals or corporations, with investment choices, prices, production, and goods distribution primarily influenced by competition within a free market.
Automatic Stabilizer
Economic policies and programs, like unemployment benefits, that automatically adjust to counteract economic fluctuations without additional government action.
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