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_________ are easy to use because the handles are spring loaded open and double pivoted for extra leverage.
Short-run Phillips Curve
A curve illustrating the inverse relationship between the rate of inflation and the rate of unemployment in an economy for a short-term period.
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.
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