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Phillips Curve
A financial principle illustrating a reverse correlation between unemployment levels and inflation rates within an economy.
Aggregate Demand (AD)
The total demand for all goods and services within an economy at different price levels, during a specific time period.
Unemployment Rate
The fraction of the working-age population that is currently unemployed and looking for a job.
Inflation Rate
The speed at which the overall price level of goods and services increases, leading to a decrease in purchasing power.
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