Examlex
A borrower who takes out a loan usually has better information about the potential returns and risks of the investment projects he plans to undertake than the lender does.This inequality of information is called
Economic Organization
The structured system of production, distribution, and consumption of goods and services within a society or economy.
Base Year
A reference year against which economic growth, inflation, and other economic indicators are measured to assess changes over time.
A W Phillips
An economist known for the Phillips Curve, which suggests an inverse relationship between unemployment and inflation rates.
Unemployment Rate
The quota of the working-age population that is without a job and searching for one.
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