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An Economy Is in Long-Run Equilibrium When Output Equals Potential

question 80

Essay

An economy is in long-run equilibrium when output equals potential output.Why is there no long-run equilibrium rate of "potential inflation"?


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Plans or frameworks for the collection, measurement, and analysis of data tailored to exploring particular research questions or hypotheses.

MAXMINCON Principle

A methodological principle designed to maximize applicable information, minimize cost, and control for unwanted variation in research or operational settings.

Overreliance

Excessive dependence on something or someone, often to the point where it becomes detrimental.

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The accumulated information, understanding, and skills that an individual or organization possesses.

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