Examlex
The deviations from the natural rate of unemployment in the actual rate of unemployment are:
Probability
A measure of the likelihood of a particular event or outcome, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.
Expected Utility
A theory in economics that calculates the utility expected from a risky or uncertain choice, aiming to maximize satisfaction.
Risk-averse
A characteristic of individuals who prefer to avoid taking risks and are likely to choose options that minimize uncertainty.
Probability
The determination of the possibility that an event will happen, quantified between 0 and 1.
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