Examlex
The designated domain over which institutional actors have the authority to make decisions is referred to as
Active Fiscal Policy
Government policy that involves altering government spending and taxation to influence the economy.
Short-run Phillips Curve
An economic model depicting an inverse relationship between the rate of unemployment and the rate of inflation in the short-term.
Potential Output
The optimum level of real gross domestic product achievable over a prolonged period without triggering higher inflation.
Expected Inflation Rate
The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling, as anticipated by consumers and businesses.
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