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If stagflation is present the short-run Phillips curve is vertical.
World Trade Organization
An international organization that regulates international trade, aiming to ensure that trade flows as smoothly, predictably, and freely as possible.
Secondary groups
Large, impersonal social groups whose relationships are mostly based on specific, limited purposes or goals.
Face-to-face interaction
Direct, in-person communication or interaction between two or more people.
Specific roles
Defined functions or responsibilities assigned to individuals within a group, organization, or social structure.
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