In the Graph of the Inflation-Unemployment Cycle, the Variable on the Horizontal

question 50

Multiple Choice

In the graph of the inflation-unemployment cycle, the variable on the horizontal axis is _____ and the variable on the vertical axis is _______.

• A)real GDP; price level
• B)price level; unemployment rate
• C)unemployment rate; inflation rate
• D)inflation rate; unemployment rate

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Definitions:

Smoot-Hawley Act

A United States legislative act passed in 1930, which raised tariffs on thousands of imported goods, contributing to the severity of the Great Depression.

Import Restrictions

Government-imposed limits or duties on the quantity or value of goods that can be imported into a country.

Military Self-sufficiency

The capability of a nation to produce all necessary military supplies and services internally without relying on foreign assistance.

National Security

Measures and strategies implemented by a government to protect its country's citizens, economy, and institutions from threats.