In Which Situation Will the Economy Move to a Point

question 14

Multiple Choice

In which situation will the economy move to a point on the Phillips curve where unemployment is higher?

• A) if the inflation rate increases
• B) if the government increases its expenditures
• C) if the Bank of Canada decreases the money supply
• D) if expected inflation increases

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Definitions:

New Deal

Initiatives including programs, public works, fiscal reforms, and regulatory measures were launched by President Franklin D. Roosevelt throughout the 1930s in the United States to help the nation recover from the Great Depression.

Union Membership

The status of belonging to a labor union, an organization that represents workers in negotiations with employers regarding wages, working conditions, and other employment rights.

Cultural Inclusion

The practice of recognizing and respecting the diverse backgrounds, values, and perspectives within a group or organization.

White Ethnic Groups

Ethnic communities or populations in a society that are identified or identify themselves primarily through European descent.