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Write the system of equations associated with the augmented matrix. Do not solve.
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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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