Examlex
Which decimal represents the smallest part of a whole?
Short-run Phillips Curve
A concept in economics that illustrates an inverse relationship between inflation and unemployment within a certain period, implying that lower unemployment in the short run can come with higher levels of inflation.
Central Bank
An institution that manages a country's currency, money supply, and interest rates, overseeing the commercial banking system.
Inflation Rate
The rise in the average price levels of goods and services within an economy over a given time frame.
Unemployment
The situation when individuals who are able and willing to work at current wage rates cannot find employment.
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