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Assessment of the overall economy, inflation and unemployment are the two main elements. Using data from the National Statistics Office. However, the relationship between inflation and unemployment, a topic that economists have argued for. The famous and recognized in 1958, is the theory of economist AW Phillips Phillip curve which shows the relationship between the opposing increases in wages and unemployment rates. In the UK between 1861 and 1957,
inflation means an increase in the overall price level of the economy. In simple words, it means that you have to pay more to get the same amount of goods or services you have come before. In contrast, the term unemployment is easy to understand. Basically, it means that those who are available for work. But do not look for a job And the unemployment rate, the percentage of unemployed workers are often used to measure unemployment.
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