Globalization in the Past Decade Has Led to A(n)

question 87

Multiple Choice

Globalization in the past decade has led to a(n) :

• A)upward-sloping short-run Phillips curve.
• B)vertical short-run Phillips curve.
• C)flat short-run Phillips curve.
• D)backward being short-run Phillips curve.

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Definitions:

Input

Resources used in the production process to create goods or provide services.

Proportions

The relationship between parts and a whole, often expressed as a ratio or fraction.

Factor 1

An element or component that contributes to a particular result or situation; can be considered as a contributing variable in different contexts.

Profit

The financial gain obtained when the revenue from selling goods or services exceeds the costs involved in their production or provision.