A Rightward Shift of the Phillips Curve Suggests That

question 38

Multiple Choice

A rightward shift of the Phillips Curve suggests that:

• A)a higher rate of unemployment is associated with each inflation rate.
• B)a lower rate of unemployment is associated with each inflation rate.
• C)the aggregate supply curve has shifted to the right.
• D)the aggregate demand curve has shifted to the left.

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Definitions:

Corporate Mergers

The combination of two or more companies into a single entity, often with the aim of boosting growth, reducing competition, and achieving economies of scale.

Oligopolies

Are giant corporations that control part of an economy. They are few in number and tend not to compete against one another. Instead, they can set prices at levels that are most profitable for them.

Primary Labour Market

describes sectors of the economy that offer high-paying jobs, secure employment, good working conditions, and benefits.

Supply And Demand

An economic model explaining price determination in a market based on the relationship between the quantity of a commodity available and the desire of buyers for it.