The Long-Run Phillips Curve

question 190

Multiple Choice

The long-run Phillips curve

• A) is downward sloping, indicating a tradeoff between unemployment and inflation.
• B) shifts to the right when the expected inflation rate increases.
• C) shows no tradeoff between inflation and unemployment; that is, any inflation rate in the long run can be consistent with the natural rate of unemployment.
• D) is upward sloping, showing that higher rates of unemployment are associated with higher rates of inflation.

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Definitions:

Maintenance

The ongoing process of preserving or sustaining a desired level of efficiency or condition in a system, machine, or one's health.

Cardiovascular Health

Refers to the health of the heart and blood vessels, which can be maintained or improved through lifestyle choices such as diet, exercise, and avoiding tobacco.

Vigorous Running

Intense running activity that significantly raises heart rate and energy expenditure, contributing to cardiovascular fitness.

Brisk Walking

A moderate-intensity aerobic activity characterized by walking at a faster pace that increases heart rate while improving cardiovascular health.