Examlex
According to Kohlberg's levels of moral development,the conventional level is characterized by considerations of society's laws and norms.
Phillips Curve
An economic concept that demonstrates an inverse relationship between the rate of unemployment and the rate of inflation within an economy.
Short-Run Aggregate Supply
The total supply of goods and services that firms in an economy plan on selling during a short period, assuming some prices/wages are sticky.
Short-Run Phillips Curve
A visual depiction illustrating the opposite correlation between inflation rates and unemployment rates within an economy for a brief period.
Unemployment
The situation where individuals who are capable of working and actively seeking work are unable to find employment.
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