The Position of the Long-Run Phillips Curve Is Determined by

question 2

Multiple Choice

The position of the long-run Phillips curve is determined by

• A) the inflation rate.
• B) the natural unemployment rate.
• C) the quantity of money.
• D) the expected inflation rate.

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Definitions:

Internal Consistency Reliability

A measure of how well the items on a test measure the same construct or concept.

Content Validity

The extent to which a test measures all facets of the concept it is intended to assess.

External Validity

The extent to which the results of a study can be generalized to other situations, populations, or settings.

Alternate Form Reliability

A measure of consistency where different versions of a test produce similar results, indicating the test’s reliability over time.