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The Phillips Curve will shift when
Utility Function
A mathematical representation that ranks an individual's preference for different combinations of goods or outcomes.
Budget Constraint
The limit on the consumption bundles that a consumer can afford to purchase, based on their income and the prices of goods and services.
Income
Income that is earned from work or investments, which is typically received at regular intervals.
Nuts
Edible seeds or fruits with a hard outer shell, often consumed as snacks or used in cooking.
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