Examlex
When a small group of people will not tolerate alternative views and comes to maintain their own viewpoint due to misguided loyalty at the cost of critical thinking, this situation is referred to as
Inflation Rate
A percentage-based uplift in the cost of goods and services within an economy over a designated timeframe.
Zero-inflation
A situation where the price level of goods and services remains constant over time, indicating an absence of inflation in the economy.
Phillips Curve
An economic concept that describes an inverse relationship between rates of unemployment and corresponding rates of inflation, suggesting that higher inflation is associated with lower unemployment and vice versa.
1970s
A decade marked by significant events including economic turmoil, the oil crisis, social movements, and the Cold War's continuing tension.
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