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CONCAVE: A curve that is 'bowed-in' toward the origin, like entering a cave. Technically speaking, the slope of a concave curve decreases from left to right as the X-axis variable increases.
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AGGREGATE SUPPLY INCREASE, SHORT-RUN AGGREGATE MARKET A shock to the short-run aggregate market caused by an increase in aggregate supply, resulting in and illustrated by a rightward shift of the short-run aggregate supply curve. An increase in aggregate supply in the short-run aggregate market results in a decrease in the price level and an increase in real production. The level of real production resulting from the shock can be greater or less than full-employment real production.
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"The only place success comes before work is in the dictionary. " -- Vince Lombardi
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IMF International Monetary Found
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