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The # of unemployed people divided by the size of the labor force
All persons over 16 who are either working for pay or actively seeking paid employment
the lowest rate of unemployment compatible with price stability
Income received in a given time period measured in current dollars
the value of output measured in current prices is known as __________ GDP
nominal income adjusted for inflation
computed by the Bureau of Labor Statistics as the average price of consumer goods.
consumer price index
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