Examlex
Three boxes are connected by stretchless strings and are pulled by a force
as shown in the figure. Which string has to be the strongest so as not to break?
Production Possibilities Frontier
A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources), assuming all inputs are used efficiently.
Unemployment Rate
The share of the working group that is currently without a job and actively on the lookout for one.
Specializing Exclusively
Involves focusing production or economic activities on a single area or product to maximize efficiency and expertise.
Recession
A momentary economic deflationary period, seen in reduced levels of trade and manufacturing, commonly characterized by a GDP drop for two sequential quarters.
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