Which of the Following Will Cause the Phillips Curve to Shift

question 49

Multiple Choice

Which of the following will cause the Phillips curve to shift to the left?

• A)Attacks by terrorists.
• B)Increasing regulation in the economy.
• C)Increasing the marginal tax rate on excess profit.
• D)Job search assistance.

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Definitions:

Social Mobility

The movement of individuals, families, or groups through a system of social hierarchy or stratification, which can be either upward or downward in nature.

Meritocratic Mobility

The movement of individuals within or between social strata in a society based on their abilities, talents, and merits rather than on class privilege or wealthy heritage.

Social Capital

The networks, relationships, and norms that facilitate collective action and contribute to the social cohesion of a community.

Employment Income

The compensation received by individuals for their labor or services, typically in the form of wages, salaries, or commissions, constituting a primary source of personal income.