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If you were a permissive parent,how would you handle a child who only wanted to eat a banana split for dinner?
Long-Run Aggregate Supply
The total quantity of goods and services an economy can produce when resources are fully employed, assuming constant technology and factors of production.
Labor Force
The total number of people employed and unemployed, seeking employment in an economy.
Technology
The application of scientific knowledge for practical purposes, especially in industry, involving the development and use of technical means and their interrelation with life, society, and the environment.
Stock of Capital
The total quantity of physical assets used in the production of goods and services in an economy.
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