Examlex
Discuss the advantages and disadvantages of the Small Cases Division of the U.S.Tax Court.
Recessionary Gap
The difference between the actual output of an economy and its potential output at full employment.
Self-correction
The process by which an economic variable adjusts back to its equilibrium or normal state after a disturbance, without external intervention.
Labor Surplus
A situation where the supply of labor exceeds the demand for labor, leading to unemployment or underemployment.
Passive Approach
A strategy or policy of non-intervention, allowing market forces to operate with minimal governmental interference.
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