The Inclusion of an Explicit Value in a Formula Is

question 72

Short Answer

The inclusion of an explicit value in a formula is known as ________.

---

Definitions:

Inflation Expectations

The rate at which individuals expect the general price level of goods and services to change over a period of time.

Short-run Phillips Curve

A representation in economics that shows an inverse relationship between the rate of unemployment and the rate of inflation in the short-term.

Unemployment

The condition wherein people who are able and willing to work and are actively looking for work cannot secure a job.

Contractionary Monetary Policy

A monetary policy strategy used by central banks to reduce inflation and cool an overheated economy by raising interest rates or increasing reserve requirements.