If Unemployment Is Above Its Natural Rate, What Happens to Move

question 179

Multiple Choice

If unemployment is above its natural rate, what happens to move the economy to long-run equilibrium?

• A)Inflation expectations rise, which shifts the short-run Phillips curve to the right.
• B)Inflation expectations rise, which shifts the short-run Phillips curve to the left.
• C)Inflation expectations fall, which shifts the short-run Phillips curve to the right.
• D)Inflation expectations fall, which shifts the short-run Phillips curve to the left.

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Definitions:

Decentralized

A system of management where decision-making authority is distributed among various levels within the organization, rather than concentrated at a single point.

Professional Development

Continuous learning and training activities undertaken by individuals to enhance their skills, knowledge, and competencies required in their professional fields.

Career Ladders

Structured sequences of job positions through which an individual can progress within an organization, typically associated with increased responsibility and rewards.

Functional Departmentation

The process of organizing an organization's structure based on specialized functions such as marketing, finance, and operations.