In the Long Run People Come to Expect Whatever Inflation

question 12

True/False

In the long run people come to expect whatever inflation rate the Fed chooses to produce, so unemployment returns to its natural rate.

---

Definitions:

Income

Money received annually from all sources.

Wealth

Net accumulated assets, including homes, land, and stocks.

Social Inequality

A condition where members of a society have unequal access to wealth, power, and resources.

Religious Affiliation

An individual's declared association or identification with a particular religion or faith tradition.