Examlex
Identify and state the historical significance of the following:
-Christopher Columbus
Frictional Unemployment
Short-term unemployment occurring when individuals are between jobs or are seeking their first jobs.
Prosperity Phase
A period in the business cycle characterized by economic growth, high employment, and rising incomes.
Three-Phase Cycle
A conceptual model describing the three stages of economic cycles: expansion, peak, and recession.
OPEC
The Organization of the Petroleum Exporting Countries, an intergovernmental organization of oil-exporting countries that coordinates and unifies petroleum policies among Member Countries.
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