When Inflation Is Not a Surprise

question 153

Multiple Choice

When inflation is not a surprise,

• A) the Phillips curve is downward sloping.
• B) activist monetary policy has a real effect on the economy.
• C) the economy is not at full-employment output.
• D) it does not affect the unemployment rate.
• E) the economy is expanding.

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Definitions:

Worship God

The act of showing reverence and adoration for a deity, especially as part of a religious ritual.

Charitable

Relating to or characterized by the giving of money, goods, or help to those in need.

Praying

A religious practice involving communion with a deity or deities through invocations, confessions, or expressions of gratitude.

Protestant Ethic

The concept introduced by Max Weber suggesting that the Calvinist emphasis on hard work, thrift, and efficiency in one's worldly calling was a driving force behind the development of capitalism.