Examlex
An operational definition is one that:
Actual Inflation
The rate at which the general level of prices for goods and services is rising, and subsequently, eroding purchasing power.
Unemployment Rate
The unemployment rate is the percentage of the labor force that is jobless and actively seeking employment.
Expected Inflation
The rate at which the general level of prices for goods and services is anticipated to rise over a specified period.
Actual Inflation
The rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling, as it is currently being measured or experienced in the economy.
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