Examlex
Identify and describe the different classes of inhalants.
Natural Rate of Unemployment
The level of unemployment that exists when the labor market is in equilibrium, including frictional and structural unemployment but not cyclical unemployment.
Long-run Phillips Curve
A graphical representation indicating that in the long-term, there is no trade-off between inflation and unemployment, implying that the curve is vertical.
Phillips Curve
A theory suggesting an inverse relationship between the rate of inflation and the unemployment rate in an economy over the short run.
Monetary Policies
Actions undertaken by a central bank, such as the Federal Reserve, to influence the availability and cost of money and credit to help promote national economic goals.
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