Examlex
In recent years jury nullification has occurred in some cases;that is,defendants have been acquitted despite facts that show guilt.
Potential Output
The maximum amount of goods and services an economy can produce when it is most efficiently using all its resources.
Recessionary Gap
A situation where an economy's real GDP is lower than its potential GDP, indicating underutilized resources.
Inflation Rate
measures the annual percentage increase in the average price level of goods and services across the economy.
Nominal Wages
The amount of money paid to employees without adjustment for inflation, representing the face value of wages at the time of payment.
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