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Phillips Curve
An economic theory suggesting an inverse relationship between the level of unemployment and the rate of inflation within an economy.
Unemployment
The state of being jobless and actively seeking employment.
Inflation
The pace at which the universal cost levels of goods and services elevate, shrinking the value of money to buy.
Money Supply
The money supply is the total amount of monetary assets available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.
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