Examlex
Distinguish between scarcity and shortage.
Expected Inflation Rate
The anticipated rate at which the general level of prices for goods and services will rise over a period.
Velocity of Money
The rate at which money circulates in the economy, typically measured as the ratio of nominal GDP to the money supply.
Actual Inflation Rate
The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling, as measured over a specific period of time.
Actual Price Level
The current cost of goods and services in an economy, affecting purchasing power and inflation rates.
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