Examlex
Which philosopher argued that we make better ethical decisions if we develop character traits and virtues, rather than by making right choices to follow rules and principles?
Great Recession
A severe global economic recession that occurred from late 2007 through mid-2009, characterized by widespread financial crisis, high unemployment, and significant drops in the economic activity.
High Inflation
A situation where prices for goods and services rise rapidly over a period, eroding purchasing power and potentially destabilizing the economy.
Crowding-Out Effect
Large federal budget deficits are financed by Treasury borrowing, which then crowds private borrowers out of financial markets and drives up interest rates.
Full Employment
A situation in which all available labor resources are being used in the most economically efficient way, minimizing unemployment to only frictional or structural levels.
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