Examlex
The bending of light rays as they pass from one medium to another is called refraction.
Base Year
A specific year against which economic or financial data is measured and compared to track growth, inflation, or other economic indicators.
Cyclical Unemployment
A type of unemployment that relates to the cyclic trends in the economy over time, often tied to changes in the business cycle.
Overall Unemployment Rate
The percentage of the labor force that is jobless and actively seeking employment, reflecting the health of an economy.
Inflation
The upward movement in the overall price points of goods and services, cutting down on purchasing strength.
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