Examlex
Design an experiment to test the two-component theory of love.
Aggregate Demand
Unified request for the provision of goods and services in an economy, calculated at a specific scale of overall price for a given duration.
Aggregate Supply
The total supply of goods and services that firms in an economy are willing and able to sell at a given price level in a specific time period.
Long Run Aggregate-Supply
In economics, it represents the total quantity of goods and services that producers in an economy are willing and able to supply at a full employment level, regardless of the price level, over a long period.
Long-Run Equilibrium
A state in which all factors of production are optimally allocated, and firms in a competitive market have no incentive to change their output level or enter/exit the industry.
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