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economics unemployment inflation elasticity demand monetary policy minimum efficiency scale fiscal policy economic growth aggregate supply aggregate demand saving financial intermediaries financial institutions stocks bonds profit long run costs economic costs costs of production long run production costs marginal cost total product production costs ap economics exam overview economies of scale eductation full employment long run aggregate supply equilibrium in the short run long run equilibrium price level exchange rate international trade discretionary fiscal policy taxes automatic stabilizers supply consumer behavior utility maximization investment banks profit maximizing price discrimination the taylor rule inflation targeting phillips curve nairu famous economists monopolistic competition productivity production function purchasing power parity foreign exchange market depreciation appreciation normative economics choice positive economics rational behavior scarcity ap exam financial system fixed cost short run costs variable cost marginal product federal reserve system open market operations money market money demand interest rate money supply equilibrium output pure competion profit maximization equilibrium interest rate fisher effect loanable funds model loanable funds market liquidity preference model pure monopoly microeconomics