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What is a scale that pinpoints a patient's physical condition on a continuum from death through varying degrees of illness to completely healthy functioning?
Potential Output
The maximum amount of goods and services an economy can produce when it is fully employed, without causing inflation.
Structural Unemployment
The occurrence of unemployment because of modifications in the industrial sector, typically induced by technological evolution, as opposed to alterations in the supply or demand of the market.
Aggregate Supply Curve
A graphical representation that shows the relationship between the overall price level in an economy and the total production of goods and services by that economy.
Actual Price Level
The current average of all prices of goods and services in an economy, as measured at a particular point in time.
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