Listed below are five terms followed by a list of phrases that describe or characterize each of the terms.Match each phrase with the number for the correct term.
Definitions:
Aggregate Demand
The grand sum of demands for all products and services within an economy, fixed at a standard price range during a certain time period.
Expected Inflation Rate
The expected inflation rate is the anticipated annual increase in the average price level of goods and services within an economy.
Actual Inflation Rate
The rate at which the general level of prices for goods and services is rising, and subsequently purchasing power is falling, measured over a particular period.
Short-run Phillips Curve
A graphical representation that shows the inverse relationship between the rate of inflation and the rate of unemployment in an economy over a short period.
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