Examlex
Suppose there is a drop in the price of an important factor input.What will be the effect on the aggregate supply curve?
Exponential Discounting
A process or model that describes how future benefits or costs are valued less as they are further in the future.
Interest Rate
The fraction of the borrowed amount a borrower needs to pay as interest to the lender.
Savings Account
A deposit account held at a bank or other financial institution that provides principal security and a modest interest rate.
Behavioral Economic Explanation
An interpretation derived from behavioral economics, focusing on psychological, social, and cognitive factors affecting economic decisions.
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