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NATURAL UNEMPLOYMENT RATE: The rate of unemployment that occurs when the economy is at full employment. This rate is primarily composed of frictional and structural unemployment.

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AGGREGATE SUPPLY DETERMINANTS

An assortment of ceteris paribus factors that affect short-run and long-run aggregate supply, but which are assumed constant when the short-run and long-run aggregate supply curves are constructed. Changes in any of the aggregate supply determinants cause the short-run and/or long-run aggregate supply curves to shift. While a wide variety of specific ceteris paribus factors can cause the aggregate supply curves to shift, they are commonly grouped into three broad categories--resource quantity, resource quality, and resource price.

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BLACK DISMALAPOD
[What's This?]

Today, you are likely to spend a great deal of time at an auction hoping to buy either a 50-foot blue garden hose or a turbo-powered vacuum cleaner. Be on the lookout for deranged pelicans.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
"A ship ought not to be held by one anchor, nor life by a single hope. "

-- Epictetus, philosopher

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