During the 1970s When Both the Unemployment Rate and Inflation

question 229

Multiple Choice

During the 1970s when both the unemployment rate and inflation rate rose, it is reasonable to conclude that

• A) only the short- run Phillips curve shifted.
• B) only the long- run Phillips curve shifted.
• C) both the short- run and long- run Phillips curves shifted rightward.
• D) both the short- run and long- run Phillips curves shifted leftward.

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Definitions:

Physiological Effects

Changes in the body's normal functions that occur in response to internal or external stimuli.

Nicotine

A stimulant and highly addictive substance found in tobacco, leading to various health issues when consumed.

Substance Intoxication

A temporary condition resulting from the excessive use of psychoactive substances, leading to changes in consciousness, cognition, perception, and behavior.

Withdrawal

The group of symptoms that occur upon the abrupt discontinuation or decrease in intake of medications or recreational drugs.