Examlex
In open-ended movement activities:
Money Supply
At any given time, the total economic assets available in an economy, which consist of cash, coins, and the balances in checking and savings accounts.
Long Run
A period of time sufficient for all inputs in the production process to be adjusted, including both fixed and variable resources.
Short-Run Equilibrium
A state in which market supply equals market demand at a particular price level, but where all factors of production and costs are not fully adjustable.
Long-Run Equilibrium
A state in which economic forces such as supply and demand are balanced and in the absence of external influences the values of economic variables will not change.
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