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The primary difference between a supervisor and a working supervisor is that:
Natural Rate
The long-term unemployment rate that is observed once the effect of short-term cyclical factors has been removed, considered to be the rate of unemployment consistent with a stable rate of inflation.
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.
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