Along an Actual (Observed) Phillips Curve

question 1

Multiple Choice

Along an actual (observed) Phillips curve,

• A) aggregate output varies inversely with the unemployment rate.
• B) aggregate output directly inversely with the inflation rate.
• C) the inflation rate varies inversely with the unemployment rate.
• D) the inflation rate varies directly with the unemployment rate.

---

Definitions:

Judicial Review

The power of courts to assess the legality of actions or decisions made by the government or other public bodies.

Legislative Action

Legislative action includes the processes and activities through which laws are proposed, considered, modified, and ultimately passed or rejected by a legislative body.

Executive Action

Refers to measures or decisions taken by the executive branch of government, often by a president, governor, or other executive authority.

Strict Scrutiny

A form of judicial review that courts use to determine the constitutionality of certain laws, requiring the law to serve a compelling state interest by the least restrictive means.