In the Three Phases of the Inflation-Unemployment Cycle, a Period

question 15

Multiple Choice

In the three phases of the inflation-unemployment cycle, a period characterized by declining Inflation and unemployment is called the

• A)economic growth phase.
• B)stagflation phase.
• C)recovery phase.
• D)Phillips phase.

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Definitions:

Delaying Gratification

The ability to postpone immediate pleasure or satisfaction in order to achieve a longer-term goal.

Uncertainty Avoidance

A cultural dimension that describes the degree to which people in a society feel uncomfortable with ambiguity and uncertainty.

Ambiguity

The quality of being open to more than one interpretation; lack of definiteness or clarity.

Assertiveness

A communication style characterized by confidently expressing one’s thoughts, feelings, and needs directly and respectfully.