Most Economists Think That, in the Short Run, There Is

question 123

Multiple Choice

Most economists think that, in the short run, there is

• A)a trade-off between inflation and unemployment, but not in the long run.
• B)no trade-off between inflation and unemployment, nor is there one in the long run.
• C)a trade-off between inflation and unemployment, and in the long run also.
• D)no trade-off between inflation and unemployment, but there is one in the long run also.

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Definitions:

Cultures

The collective norms, values, traditions, and practices of a group or society that shape their way of life.

Business Activities

Various actions undertaken by companies as part of their operations, including production, marketing, and sales.

Personal Space

The physical space immediately surrounding someone, into which any encroachment feels uncomfortable or intrusive.

Study

The act of devoting time and attention to acquiring knowledge on a subject, through reading, observation, or research.