Examlex
Molecules of a liquid can pass into the vapor phase only if the
Output
The total quantity of goods and services produced by an economic system.
Short Run
A period in economics during which at least one input is fixed while others are variable, commonly used to analyze short-term decision-making.
Long Run
A time frame in economics in which all factors of production and costs are variable, allowing all inputs to be adjusted.
Aggregate Demand
The total demand for all goods and services in an economy at various price levels, over a specific time period.
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