Examlex
When hermit crabs crawl across the ocean floor, they often have sea anemones attached to their backs. The anemones use their dangerous tentacles to keep hermit crab predators at bay, and they dine on the particles of food that the crab does not eat. This is an example of
Short Run
A period in economics during which some factors of production are fixed, limiting the immediate ability of businesses to expand or change production levels.
Long Run
Refers to a period in which all factors of production and costs are variable, allowing for the full adjustment to changes.
Monetary Growth
The increase in the quantity of money in an economy over time, which can influence inflation and economic activity.
Real GDP
Gross Domestic Product adjusted for inflation, providing a more accurate reflection of an economy's size and growth rate.
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