The Phillips Curve Describes the Relationship Between

question 10

Multiple Choice

The Phillips curve describes the relationship between

• A)inflation and interest rates.
• B)aggregate expenditure and aggregate demand.
• C)unemployment and the rate of change of wages.
• D)the money supply and interest rates.
• E)the output gap and potential GDP.

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Definitions:

Emancipation

refers to the process of being freed from legal, social, or political restrictions; historically associated with the freeing of slaves.

Kinship Ties

The relationships among individuals brought together through blood, marriage, or adoption, forming the basis of family connections and social networks.

Legitimize

To make something legal, acceptable, or official.

Godparents

Individuals selected to be responsible for the religious education and guidance of a child, typically in Christian baptisms.