The Long- Run Phillips Curve Shows the Relationship Between the Inflation

question 129

Multiple Choice

The long- run Phillips curve shows the relationship between the inflation rate and the unemployment rate when the

• A) actual inflation rate equals the expected inflation rate.
• B) real interest rate equals the nominal interest rate.
• C) real interest rate is zero.
• D) inflation rate is zero.

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Definitions:

Organizational Norms

The shared expectations and rules that guide behavior of people within an organization.

Disjunctive Socialization

is a process in which new members of a group or organization have to acquire knowledge and skills that are significantly different from those of existing members.

Institutionalized Socialization

The process by which individuals are taught and trained to internalize and follow the norms, values, and behaviors considered appropriate within a given society or organization.

Disjunctive Tactics

Strategies or methods that involve choosing alternatives that are not naturally connected or are divergent in approach.