Examlex
If the Phillips curve represents a "________ relationship," then the trade-off between unemployment and inflation is permanent.
Inefficient
Lacking in effectiveness or productivity, resulting in wasted resources or effort without achieving the desired output.
Economies Of Scale
Cost advantages reaped by companies when production becomes efficient, as the scale of operation increases, leading to a lower cost per unit.
Fixed Costs
Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.
International Trade
The exchange of goods and services between countries.
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