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When the overall level of prices in the economy is increasing,economists say that the economy is experiencing
Production Possibilities Frontier (PPF)
A curve depicting all maximum output possibilities for two goods, given a set of inputs.
Technology Available
Refers to the tools, devices, systems, and solutions that are currently accessible and can be used to resolve problems, improve efficiency, or enhance quality of life.
Labor Productivity
The measurement of economic output created per unit of labor input.
Productivity Of Labor
The measure of the output produced per unit of labor; an increase in labor productivity typically means more output is produced with the same amount of labor.
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