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When you drag a toy teddy bear along the floor by a force that is parallel to the floor, the magnitude of the force of friction
Inflation
An increase in the average cost of goods and services, resulting in a drop in the value of purchasing power.
Unemployment Rate
The unemployment rate represents the proportion of the workforce that is without a job and is actively looking for work.
Monetary Neutrality
The theory that changes in the money supply only affect nominal variables (like prices) and not real variables (like output) in the long run.
Phillips Curve
An economic concept depicting an inverse relationship between the rate of unemployment and the rate of inflation in an economy over time.
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