Along a Short-Run Phillips Curve, the

question 98

Multiple Choice

Along a short-run Phillips curve, the

• A)short-run benefit of lower unemployment is lower inflation.
• B)long-run cost of lower inflation is higher unemployment.
• C)short-run cost of lower unemployment is higher inflation.
• D)short-run cost of higher inflation is a higher real interest rate.
• E)short-run cost of lower inflation is higher interest rates.

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Definitions:

Parametric Test

A statistical test that makes assumptions about the parameters of the population distribution from which the sample was drawn.

Wilcoxon Rank Sum Test

A non-parametric statistical test used to compare two independent samples to assess whether their population mean ranks differ.

Wilcoxon Rank-sum Test

A nonparametric statistical test used to compare two independent samples to determine if they come from the same population or not, based on rank sums.

Wilcoxon Rank Sum Test

A non-parametric statistical test used to compare two independent samples to assess whether their populations have identical distribution.