Examlex
Use the money market to explain the interest-rate effect and its relation to the slope of the aggregate demand curve.
Deadweight Loss
A loss in economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable.
Price Ceiling
A government-imposed limit on how high the price of a product can be, intended to protect consumers from high prices.
Monopolist
A single seller in a market who controls the supply of a product or service, and thus, has significant power to set prices.
Deadweight Loss
The drop in economic productivity happening when the optimal free market balance for a good or service isn't met.
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