Many Economists Think That, in the Long Run, the Phillips

question 191

Multiple Choice

Many economists think that, in the long run, the Phillips curve is

• A)a horizontal line.
• B)a vertical line.
• C)the same as the short-run curve.
• D)a 45-degree line from the origin.

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Definitions:

Blindness

The condition of lacking visual perception due to physiological or neurological factors.

Blind Spot

An area of the visual field that lacks detection due to the absence of photoreceptor cells in the part of the retina where the optic nerve exits the eye.

Optic Nerve

Twin nerves that convey sight-related information from the retina to the brain.

Retina

A layer at the back of the eyeball containing cells that are sensitive to light and that trigger nerve impulses that pass via the optic nerve to the brain.