The Phillips Curve Is an Extension of the Model of Aggregate

question 134

True/False

The Phillips curve is an extension of the model of aggregate supply and aggregate demand because, in the short run, an increase in aggregate demand increases prices and decreases unemployment.

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Definitions:

Insulator

A material that resists the flow of electric charge, used in various applications to protect against electric shock or retain heat.

Transcription Factor

Regulatory protein that influences transcription by binding directly to DNA; e.g., an activator or repressor.

Enhancer

DNA sequences that increase the transcription level of a gene they are associated with, enhancing gene expression.

Lactose Operon

A group of genes involved in the metabolism of lactose in bacteria, controlled by a mechanism that turns gene expression on or off depending on the presence of lactose.