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How are velocity, frequency, and length of each wave related?
Natural Rate
The long-term unemployment rate around which the labor market is in equilibrium, unaffected by short-term fluctuations.
Unemployment
The condition of being without a job while actively looking for employment and being willing to work.
Potential GDP
An estimate of the maximum output an economy can produce when it is most efficiently utilizing all available resources.
Fiscal Policy
Government policies related to taxation and spending that aim to influence the economy's overall activity.
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