The Vertical Phillips Curve Occurs in the Long Run Because

question 13

Multiple Choice

The vertical Phillips curve occurs in the long run because

• A)the aggregate supply curve is vertical which means that changes in aggregate demand will not change unemployment.
• B)wage and price rigidities prevent changes in aggregate demand to change unemployment.
• C)economic agents are quick to respond to changes in the price level.
• D)of lags in monetary and fiscal policies.

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Definitions:

Peak Needs

Times when an organization requires additional resources or personnel to handle high volumes of work or special projects.

HR Practices

The strategies, policies, and methods implemented by the human resources department to manage and support an organization’s workforce effectively.

Skill Levels

The degree of competence or proficiency an individual has in a particular skill, often categorized by beginner, intermediate, and advanced.

Cultural Differences

Variations in the beliefs, values, habits, norms, and behaviors among people from different backgrounds and societies.