Examlex
Group process is described as the orderly interplay with other groups.
Inflation
The velocity at which the total cost of products and services surges, reducing purchasing capacity.
Unemployment
The situation of being without a job, while actively looking for one and willing to work.
Short-Run Phillips
A concept that shows an inverse relationship between the rate of unemployment and the rate of inflation in an economy over a short period of time.
Inflation Rate
The percentage increase in the price level of goods and services in an economy over a period of time.
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