Examlex
Outline the learning view of human development.
Phillips Curve
A graphical representation showing an inverse relationship between the rate of unemployment and the rate of inflation in an economy.
Unemployment Rate
The percentage of the employment pool that is not working but is actively on the lookout for a job opportunity.
Inflation Rate
The rise in the overall cost of goods and services across an economy during a certain timeframe, expressed as a percentage.
Comparative Advantage
The capability of a person, business, or nation to generate a product or offer a service with a lesser opportunity cost compared to its rivals.
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