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Identify the type of fallacy in the following passage.
"Hello Mom? Yeah, it's me.... Fine. Great, in fact. Massachusetts is super-I've never had so much fun.... No.... Yes! And listen, I've just met the most wonderful guy. And I'm sure he's rich. You should just see the expensive car he drives...."
Unemployment
A situation where individuals who are capable of working and are seeking work are unable to find employment.
Natural Rate of Unemployment
The level of unemployment that exists when the labor market is in equilibrium, including frictional and structural unemployment but not cyclical unemployment.
Long-run Phillips Curve
A graphical representation indicating that in the long-term, there is no trade-off between inflation and unemployment, implying that the curve is vertical.
Phillips Curve
A theory suggesting an inverse relationship between the rate of inflation and the unemployment rate in an economy over the short run.
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