Examlex
You are conducting a long term study of ecosystem functioning in a freshwater lake.You and your field assistants gather data for many biotic and abiotic factors,including species diversity,water and benthic quality,and turbidity.Over the ten years of your study,you find that the abundance of water lilies is correlated with several other factors.When water toxicity and turbidity are high and water pH is abnormally low,water lilies quickly become scarce,followed by periods where fish,amphibians,and water birds are also scarce or absent.In years with very high water nutrient levels,water lilies quickly become abundant,followed by years where wading birds are scarce.From these data,you conclude that water lilies are __________.
Unemployment
Occurs when individuals who are actively seeking work are unable to find employment. It is typically measured as a percentage of the labor force.
Supply Shocks
Unexpected events that suddenly change the supply of a good or service, potentially leading to rapid price changes.
Short-Run Phillips Curve
A curve that illustrates the inverse relationship between the rate of inflation and the unemployment rate in the short term, suggesting that lower unemployment comes with higher inflation.
Long-Run Phillips Curve
A concept suggesting that in the long term, there is no trade-off between inflation and unemployment, as opposed to the short-run Phillips curve.
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