Examlex
A "long-run exploitable Phillips curve" refers to a Phillips curve that in the long run is ________ rather than ________.
Utility Function
A mathematical expression depicting an individual's preference ranking for different bundles of goods or services.
Units of Quiche
The quantifiable amount of quiche, either in pieces or volume, considered in various contexts such as cooking or consumption.
Pure Exchange Economy
An economic model where individuals trade existing goods without the production of new goods, focusing on the redistribution of resources.
Utility Function
Represents a consumer's preferences by assigning a utility value to each possible choice, indicating the level of satisfaction or happiness derived from those choices.
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