Examlex
Sometimes economists who have the same positive views about how the economy works give conflicting advice on policy because they have different values.
Phillips Curve
An economic concept that depicts an inverse relationship between the rate of unemployment and the rate of inflation.
Central Bank
An institution that manages a country's currency, money supply, and interest rates, oversee the commercial banking system, and provides financial services to the government.
Unemployment Rate
The percentage of the labor force that is jobless and seeking employment, used as an indicator of the economy's health.
Contractionary Monetary Policy
Monetary policy measures undertaken by a central bank to reduce inflation and slow down economic growth by decreasing the money supply or increasing interest rates.
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