Examlex
Abrasions result from:
Long-Run Aggregate Supply
Represents the total output an economy can produce when both capital and labor resources are fully employed at their highest productivity levels.
Money Supply
The sum of all financial assets, such as cash, coins, and the amounts in checking and savings accounts, present in an economy at a given time.
Expected Price Level
The anticipated average price of goods and services in an economy over a future period.
Short-Run Aggregate Supply
The total supply of goods and services that firms in an economy plan on selling during a specific time period, under the presumption of some fixed costs.
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