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An ideal gas system changes from state i to state f by paths iaf and ibf. If the heat added along iaf is Qiaf = 50 cal, the work along iaf is Wiaf = 20 cal. Along ibf, if Qibf = 40 cal, the work done, Wiaf, is
Short-Run Aggregate Supply
The aggregate volume of products and services that companies intend to sell within a brief period in the economy, based on existing price levels.
Long-Run Aggregate Supply
Represents the total production of goods and services in an economy at full employment, without any market frictions.
Aggregate Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price level in an economy.
Aggregate Demand Curve
A graph showing the relationship between the total quantity of goods and services demanded across all sectors of an economy and the price level, all else being equal.
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