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The median nerve innervates the anterior arm.
Long-Run Aggregate Supply
The total output of goods and services that an economy can produce when both labor and capital are fully employed, at full capacity.
Long-Run Phillips Curve
A macroeconomic concept that suggests there is no long-term trade-off between inflation and unemployment, implying that in the long run, the economy reaches a natural rate of unemployment regardless of inflation.
Natural Rate
The natural rate often refers to the natural rate of unemployment, which is the level of unemployment consistent with a stable inflation rate over time.
Phillips Curves
A graphical representation indicating the inverse relationship between the rate of unemployment and the rate of inflation in an economy.