Examlex
Modern historians relate the Renaissance to the evolution of the printing press.
Long Run
A period in economics where all inputs can be adjusted, and companies can change all factors of production.
Phillips Curve
An economic model suggesting an inverse relationship between rates of unemployment and corresponding rates of inflation.
Unemployment Rate
The percentage of the labor force that is jobless and actively seeking employment within an economy.
Long-run Phillips Curve
A graphical representation showing the relationship between inflation and unemployment when inflation expectations are fully adjusted to actual inflation.
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