Examlex
Select the correct description for each of the abbreviations.
-BPH
Wages And Prices
The relationship and dynamics between the compensation paid to labor and the cost of goods and services in an economy.
Full Employment
A situation in an economy where all available labor resources are being used in the most efficient way possible, typically reflected by the absence of cyclical unemployment.
Keynes
Relates to John Maynard Keynes, a UK-based economist whose notions significantly altered macroeconomics theory and the financial policies of governments.
Aggregate Supply
The aggregate amount of products and services that companies within an economy intend to offer for sale over a given period.
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