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Discuss monetary policy. Explain how it compares to economic policy.
Rate of Inflation
The annual rate at which the overall cost of goods and services rises in an economy, indicating a time-specific escalation in general price levels.
Rate of Unemployment
The fraction of the labor force that is in a state of unemployment but is engaged in seeking employment.
Mainstream Economists
Economists who adhere to widely accepted theories and models within the field, focusing on the analysis and understanding of economic phenomena.
Persistent Inflation
Sustained increase in the general price level of goods and services in an economy over a period of time.
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