Examlex
Which of the following are pre-test loops?
Price Level
The current mean value of prices for every good and service available in the economy.
Output
The total amount of goods or services produced by a person, machine, business, or country.
Housing and Financial Crisis
A period of extreme stress in financial markets and banking systems, often leading to a downturn in the housing market and economy.
Short-run Phillips Curve
A graphical representation that shows the inverse relationship between the level of unemployment and the rate of inflation in the economy over the short-term.
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