The Long-Run Phillips Curve Applies When the Economy Is at Full

question 4

Multiple Choice

The long-run Phillips curve applies when the economy is at full employment, so the long-run Phillips curve is _{--------------------} which demonstrates that changes in the inflation rate_{--------------------} effect on unemployment.

• A)vertical; have an
• B)a downward sloping straight line with a 45 degree slope; have an
• C)vertical; have no
• D)horizontal; have no
• E)an upward sloping straight line with a 45 degree slope; have an

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Definitions:

Psyche

The total of the human mind, conscious and unconscious.

Largest Slum

A heavily populated urban area characterized by substandard housing and squalor, often described as the most extensive in size or population.

Khayelitsha

Khayelitsha is a township located on the outskirts of Cape Town in South Africa, known for its vibrant community and significant economic challenges.

Innate

Inherent or natural characteristics or abilities not acquired or learned.