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Cyclically Unemployed
Individuals who are out of work due to downturns in the business cycle, characterized by reduced demand for goods and services.
Rate of Inflation
The rate at which the general level of prices for goods and services is rising, and, subsequently, eroding purchasing power.
1980s
A decade known for its significant political, cultural, and technological changes, impacting global dynamics.
Recession
A significant decline in economic activity across the economy, lasting longer than a few months, typically visible in GDP, real income, employment, and other indicators.
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