Examlex
When the marginal return from an activity decreases on a continuous basis, the profit graphs will consist of a series of line segments.
Unemployment
Unemployment refers to the situation when individuals who are capable of working and are actively seeking work are unable to find employment.
Inflation
A broad upsurge in pricing with a corresponding fall in the worth of money.
Short-run Phillips Curve
A graphical representation showing the inverse relationship between unemployment and inflation rates in the short term.
Inflation Expectations
Inflation expectations are the rate at which people—consumers and investors—expect the general level of prices to change in the future.
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