Examlex
For most critics, the emphasis on prediction and explanation rather than description is the strength of uses & grats theory.
Potential GDP
An estimate of the maximum level of economic activity an economy can sustain over a period without leading to inflation.
High Unemployment
High unemployment refers to a condition where a significant portion of the workforce is without jobs, leading to economic and social challenges.
Credible Policy
A policy considered by participants in the economy to be likely implemented and maintained over time, thereby influencing their economic decisions.
Lower Inflation
A decrease in the rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is increasing.
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