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The New Classical Explanation of Aggregate Supply in the Short

question 28

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The new classical explanation of aggregate supply in the short run builds on research by


Definitions:

Internet of Things

A network of interconnected devices and objects that collect and share data without human-to-human or human-to-computer interaction.

Globalization

The focus on creating economic, cultural, political, and technological interdependence among individual national institutions and economies.

Autonomous Vehicles

Self-driving vehicles equipped with systems and sensors that allow them to navigate and operate without human intervention.

Mobile Communications

Mobile communications involve the wireless transmission of voice and data through devices such as smartphones and tablets, enabling connectivity anytime and anywhere.

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