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A radio wave has a frequency of 8.6 × 108 Hz. What is the energy of one photon of this radiation?
Adverse Supply Shock
An unexpected event that suddenly decreases supply, potentially increasing prices and decreasing the quantity available for consumers.
Money Supply
At any specified time, the overall financial assets available in an economy, covering cash, coins, and the balances in checking and savings accounts.
Output
The amount of goods or services produced by a company, industry, or economy within a specific period.
Long-run Phillips Curve
An economic concept illustrating that in the long-term, there is no trade-off between inflation and unemployment, suggesting that the natural rate of unemployment is unaffected by inflation.
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