Examlex
What is the name of the fundamental confession of faith: "There is no god but God, and Muhammad is God's prophet"?
Price Level
An index that measures the average changes in prices received by domestic producers for their output, affecting the purchasing power of money.
Cost-Push Inflation
An inflationary trend that results from an increase in the cost of production, leading to a decrease in supply and an increase in prices.
Demand-Pull Inflation
Inflation that occurs when aggregate demand in an economy outpaces aggregate supply, leading to an increase in prices.
OPEC
The Organization of Petroleum Exporting Countries, a group consisting of 13 of the world's major oil-exporting nations, aiming to manage the supply of oil in an effort to set the price on the world market.
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