Examlex
Define executive functioning and describe one way to measure it.
Supply Shock
A supply shock is an unexpected event that suddenly changes the supply of a product or commodity, leading to sudden changes in its price.
Recessionary Gap
A situation where the real Gross Domestic Product (GDP) is lower than the potential GDP, indicating underperformance in the economy.
Aggregate Demand Curve
A graphical representation of the relationship between the total demand for goods and services in an economy at different price levels.
Long-Run Aggregate Supply
The total quantity of goods and services an economy can produce when resources are fully employed, assuming constant technology and factors of production.
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