Examlex
Determine whether the equation defines y as a function of x.
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High Inflation
A situation characterized by an excessive and accelerating increase in the prices of goods and services across the economy.
Expectations
Beliefs or forecasts about future events that affect economic decisions, such as consumption, savings, and investment.
Adverse Supply Shock
An unexpected event that suddenly decreases the supply of a good or service, potentially leading to higher prices and lower output.
Short-Run Phillips
A concept describing the inverse relationship between unemployment and inflation within a short-term period.
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