Use the Figure Below to Answer the Following Questions

question 88

Multiple Choice

Use the figure below to answer the following questions.
Figure 12.4.1
-Refer to Figure 12.4.1.The figure illustrates an economy's Phillips curves.What is the natural unemployment rate?

• A)6 percent
• B)7 percent
• C)4 percent
• D)9 percent
• E)cannot be determined without more information

---

Definitions:

Promisee

The party in a contract who is promised something by another party (the promisor) and stands to benefit from the fulfillment of that promise.

Novation

The act of replacing one obligation with another, which involves a new party or a new agreement and extinguishes the original contract.

Substitute Contract

A legal agreement that replaces a previously made contract, either rectifying it or substituting parties or terms in the contract.

Original Obligor

The individual or entity originally responsible for fulfilling the obligations of a contract or agreement.