On the Long-Run Phillips Curve, the Unemployment Rate

question 68

Multiple Choice

On the long-run Phillips curve, the unemployment rate

• A) and inflation rate can take any value.
• B) can be any value, but the inflation rate equals the expected inflation rate.
• C) equals the natural unemployment rate, and the inflation rate equals the expected inflation rate.
• D) equals the natural unemployment rate, but the inflation rate can be any value.
• E) decreases when the inflation rate increases.

Understand different types of plans (Strategic, Tactical, Operational) and their purposes in achieving organizational goals.

Recognize the significance of setting goals and objectives within an organization and how they guide managerial decisions.

Distinguish between strategic planning and other planning types.

Identify the roles and impacts of different management functions (directing, planning, staffing, controlling, organizing).