The Long-Run Phillips Curve Is ________ and Equal to ________

question 39

Multiple Choice

The long-run Phillips curve is ________ and equal to ________.

• A) horizontal; the natural rate of unemployment
• B) vertical; the natural rate of unemployment
• C) vertical; full-employment output
• D) horizontal; full-employment inflation
• E) horizontal; full-employment output

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Definitions:

Limited Partner

An investor in a partnership who has limited liability to the extent of their investment and does not take part in day-to-day management.

Participates in Management

Involvement in the decision-making processes and operations of an organization or company.

Liability

The state of being responsible for something, especially by law, including debts or legal obligations.

Limited Liability Partnership

A partnership in which some or all partners have limited liabilities, protecting them from personal responsibility for the debts of the business.