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Forecasting Device
A tool or software used to predict future conditions or trends based on historical and current data analysis.
Phillips Curve
An economic concept that depicts an inverse relationship between the rate of inflation and the rate of unemployment over the short term.
Inflation
The measure at which prices for general goods and services escalate, devaluing the purchasing power.
Structural Unemployment
Unemployment resulting from industrial restructuring, technological changes, or other long-term factors, affecting the structure of the labor market.
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