An Increase in the Natural Unemployment Rate Shifts

question 122

Multiple Choice

An increase in the natural unemployment rate shifts

• A) both the short-run and the long-run Phillips curves rightward.
• B) the short-run but not the long-run Phillips curve rightward.
• C) the long-run but not the short-run Phillips curve rightward.
• D) neither the short-run nor the long-run Phillips curve.

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Definitions:

Salary Basis

A method of compensation where an employee is paid a fixed amount of money on a regular basis, such as weekly or monthly.

Number of Hours

Refers to the total amount of time an individual spends on work-related activities within a specific period.

Quality of Work

The overall excellence or merit of the work performed, often judged by criteria such as accuracy, effectiveness, and attention to detail.

Child Labor Laws

Legal regulations designed to protect children from exploitation in the workforce by setting minimum age requirements and work conditions.