-According to the above table, the value of M2 is
Definitions:
Long-run Phillips Curve
A graphical representation suggesting that in the long run, there is no trade-off between inflation and unemployment.
Higher Inflation
Higher Inflation occurs when there is a sustained increase in the general price level of goods and services, reducing purchasing power over time.
Long Run
A period in economics where all inputs can be adjusted, and companies can change all factors of production.
Phillips Curve
An economic model suggesting an inverse relationship between rates of unemployment and corresponding rates of inflation.
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