If the Equation for a Country's Phillips Curve Is π

question 49

Multiple Choice

If the equation for a country's Phillips curve is π = 0.02 - 0.8(u - 0.05) , where π is the rate of inflation and u is the unemployment rate, what is the short-run inflation rate when unemployment is 4 percent (0.04) ?

• A)above 2 percent (0.02)
• B)below 2 percent (0.02)
• C)2 percent (0.02)
• D)-2 percent (-0.02)

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Definitions:

Travis Hirschi

A criminologist who developed the Social Control Theory, proposing that strong bonds to society encourage conforming behavior and reduce the likelihood of deviance.

Crime

A violation of a norm that has been codified into law.

Structural Functionalism

A sociological perspective that views society as a complex system whose parts work together to promote solidarity and stability, focusing on the functions of each part in maintaining the whole.

Social Cohesion

The bonds that bring individuals together in a society, fostering a sense of belonging and mutual support.