Examlex
The amplitude or size of the seismic waves from an earthquake is measured by a recording instrument called a(n) ____________________.
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.
Unemployment Rate
The percentage of the employment pool that is not working but is actively on the lookout for a job opportunity.
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