According to the Phillips Curve,unemployment and Inflation Are Negatively Related

question 121

Multiple Choice

According to the Phillips curve,unemployment and inflation are negatively related in

• A)the short run and in the long run.
• B)the short run,but not in the long run.
• C)the long run,but not in the short run.
• D)neither the long run nor the short run.

---

Definitions:

APS

A generic term potentially referring to various organizations or concepts; without specific context, a precise definition cannot be provided. If referring to economic terms, it might be erroneous or too vague without further context.

Disposable Income

Disposable income is essentially the finance available for individuals or families to save or expend after all income tax charges have been subtracted.

Autonomous Consumption

Consumer spending that does not depend on current income, influenced instead by factors like wealth and basic needs.

Autonomous Consumption

The level of consumption that occurs when income is zero, representing the expenditures needed to meet basic needs.