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If currently illegal drugs are made legal,GDP will increase.
Inflation Rate
The rise in the cost of goods and services across an economy over a specific period, expressed as a percentage.
Potential GDP
An estimate of the maximum level of economic activity that an economy can sustain over the long term without increasing inflation.
Labor Force
Comprises all the working-age population that is employed and those unemployed but seeking employment.
Rational Expectations
The economic theory that assumes individuals make predictions about the future based on all available information and in a way that is systematically correct.
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