In Australia, When Both the Unemployment Rate and the Inflation

question 111

Multiple Choice

In Australia, when both the unemployment rate and the inflation rate rose during the 1970s and 1980s, it is reasonable to conclude that

• A)only the short- run Phillips curve shifted.
• B)both the short- run and long- run Phillips curves shifted rightward.
• C)both the short- run and long- run Phillips curves shifted leftward.
• D)only the long- run Phillips curve shifted.

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Definitions:

Cycle Time

The total time from the beginning to the end of a process, including process time and any delays, indicating the speed at which outputs are produced from inputs.

Workstations

Designated areas in a manufacturing or office setting where specific tasks are performed, often outfitted with necessary tools and equipment.

Task Times

The duration required to complete specific jobs or assignments in a production or work process.