The Very Low Inflation That the U

question 134

Multiple Choice

The very low inflation that the U.S. experienced in 2009 and 2010

• A)appears to have reduced expected inflation, and the short-run Phillips curve shifted downward as a result.
• B)appears to have reduced expected inflation, and the short-run Phillips curve shifted upward as a result.
• C)does not appear to have reduced expected inflation, and the short-run Phillips curve remained relatively stable as a result.
• D)does not appear to have reduced expected inflation, but the short-run Phillips curve shifted dramatically nevertheless.

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Definitions:

Apprentice Welder

An individual in the early stage of their career learning the craft of welding under the supervision of experienced welders.

On-the-Job Training

Training that occurs within the workplace while the employee is performing their actual job duties, often under the supervision of a more experienced colleague.

Human Capital

The combined abilities, expertise, and non-physical assets of people that contribute to creating financial worth.

Physical Capital

Assets that are tangible, such as buildings, machinery, and equipment, used to produce goods and services.