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What is the characteristic of a radical chain propagation step?
Phillips Curve
An economic concept that illustrates an inverse relationship between the rate of inflation and the unemployment rate in the short run.
Disinflates
Disinflation refers to a reduction in the rate of inflation, leading to a slower increase in the price levels of goods and services.
Unemployment Rate
The percentage of the working-age population that is unemployed and in the process of looking for a job.
Sacrifice Ratio
An economic term that refers to the amount of production or output that must be forgone in order to reduce inflation by one percentage point.
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