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INFLATION RATE: The percentage change in the price level from one period to the next. The two most common price indices used to measure the inflation are the Consumer Price Index (CPI) and the GDP price deflator.

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AGGREGATE SUPPLY DECREASE, LONG-RUN AGGREGATE MARKET

A shock to the long-run aggregate market caused by a decrease in aggregate supply, resulting in and illustrated by a leftward shift of the long-run aggregate supply curve. A decrease in aggregate supply in the long-run aggregate market results in an increase in the price level and a decrease in real production. The level of real production resulting from the shock is a smaller level of full-employment real production.

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Today, you are likely to spend a great deal of time watching infomercials hoping to buy either a set of tires or a birthday gift for your grandfather. Be on the lookout for malfunctioning pocket calculators.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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