Examlex
A check "payable to the order of Laura" is indorsed in blank if Laura simply delivers it without signing it.
Expected Inflation
The rate at which consumers, businesses, and investors expect prices to rise over a future period.
Long-run Phillips Curve
The long-run Phillips Curve is an economic concept that illustrates the relationship between inflation and unemployment, suggesting that in the long run there is no trade-off between these two factors.
Potential Output
The upper limit of real GDP sustainable over an extended period without inflating the inflation rate.
Phillips Curve
A graphical representation showing an inverse relationship between the rate of unemployment and the rate of inflation in an economy.
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