Examlex
When there is deflation, the realized real interest rate is more than the nominal interest rate.
Substitute Input
A good or service that can be used in place of another good or service in the production process, often affecting supply and market competition.
Labor Resource Market
The marketplace in which individuals offer their labor to employers in exchange for wages.
Output Effect
The change in total output resulting from an adjustment in productive resources or technology.
Service
An intangible act or use provided by one party to another, often characterized by an exchange of expertise or time.
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