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Glossary Business & Economy

Fiscal policy

What a government does with taxation and spending, as distinct from monetary policy, which is set by the central bank.

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Ransomware

Malicious software that encrypts an organisation's files and demands payment to release them. Paying does not…

Referendum

A direct public vote on a single question. Whether the result binds the government depends on…

Training data

The material a model learns from. Its gaps and biases carry through into the model's output,…

Deflation

A sustained fall in the general price level. It sounds welcome but tends to delay spending…

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