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A professor assigns a group project to the students in the class, where all members of the same group will get the same grade. All members of Group B meet regularly and are working hard except one student who feels the others are already doing a great job, so the student does not put in as much effort as he should. The student's behaviour is called ___________.
Purchasing Power
The amount of goods or services one can obtain with a single unit of currency, determining its value.
Deflation
A decrease in the general price level of goods and services, often indicating an reduction in the supply of money or credit.
Nominal Interest Rate
The percentage rate at which interest is charged or paid on a loan or investment, not adjusted for inflation.
Inflation Rate
The upward trajectory of prices for goods and services, causing a consequent decline in how much one can purchase.
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