Examlex
What is a business rule?
Short-run Economy
The period in which the quantities of at least one input, such as capital, is fixed and firms adjust only labor inputs to change output levels.
Money Supply Growth Rate
The speed at which available monetary resources in an economy grow over a determined time frame.
Short-run Phillips Curve
A graphical representation indicating an inverse relationship between the rate of inflation and the rate of unemployment in the short term.
Inflation
The measure of how quickly the general price level for products and services grows, resulting in reduced consumer purchasing ability.
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