Why Is Hardware the Only Component of an Information System

question 9

Essay

Why is hardware the only component of an information system that is not affected by the global economy?

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Definitions:

Price Level

The average of current prices across the entire spectrum of goods and services produced in the economy, often used in economic analysis and policy-making.

Expansionary Gap

A situation where the actual output of an economy exceeds its potential output, often leading to inflationary pressures.

Recessionary Gap

The situation where an economy's real GDP is less than its potential GDP, leading to underutilization of resources and unemployment.

Short-Run Output

The production level of goods and services in the short term, often under fixed conditions or capacities.