Examlex
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Inflation
A universal hike in costs and decline in the monetary value.
Long-Run Phillips Curve
An economic concept stating that in the long run, there is no trade-off between inflation and unemployment, depicted as a vertical line at the natural rate of unemployment.
Fiscal Policy
Fiscal policy involves government spending and taxation to influence the economy.
Inflation Rate
The percentage increase in the price level of goods and services over a period of time.
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