Inflation is $a(n)$ increase in the general level of price. It may also be described as $a(n)$ dieerease in purchasing power.

This means the value of money is directly related to inflation.

Economists use the consurner price Index as the primary measure of inflation.

This index looks at the average price of a market basket of goods and services purchased by the average urban

Economic data that are for price level changes are said to be expressed in terms.

The business cycle model is a$($n$)$ plot model that depicts the GDP$,$ after it has been adjusted for inflation, over a period of time.

There are two schedules in the model, the actual adjusted GDP in the run and the run trend of adjusted GDP$.$

The model reflects four periods or phases that create an arbitrary but pattern of hills and valleys.

The $-$ phase is a period in which RGDP is rising. The peak period is a temporary

Th of RGDP$.$ temporary

phase is a period of falling real gross domestic product. The trough is a

Economists study the of RGDP$.$ for future events.

The natural rate of output is the events of each phase of the business cycle to create forecasts long run GDP of an economy. Wh the economy is at the natural rate of output.

The market is where firms pay out wages to workers and households earn their incomes.

In the United States, the labor force is includes all men, women and children between the ages of $16$ and $65$ who are citizens or with legal residency to work, that are willing and able to sell the service of their labor in the market.

unemployment occurs because of the information required and time it takes for capable workers seeking employment.

unemployment happens when the qualifications of the available workers do not match the requirements needed for employment.