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Explain how the minimum wage laws account for a percentage of unemployment.
Hyperinflations
Extremely high and typically accelerating inflation rates, drastically eroding the real value of the local currency.
Real GDP
The market value of all final goods and services produced within a country in a year, adjusted for inflation.
Physical Units
Measurements or quantities of items not based on value or price but on physical count or volume.
Velocity
The rate at which money circulates in an economy, calculated as the ratio of nominal GDP to the money supply.
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