The Phillips Curve Is Built on the Assumption That Business

question 211

Multiple Choice

The Phillips curve is built on the assumption that business fluctuations are

• A)from the demand side.
• B)from the supply side.
• C)from both the demand and supply side.
• D)purely random events.

---

Definitions:

Consumer Demands

The quantity of goods and services that consumers are willing and able to purchase at various prices during a specified time period.

Annual Memberships

Subscription-based memberships that are renewed on a yearly basis, often granting access to specific services or benefits.

Purchase Books

The act of buying books, typically for personal reading, study, or for adding to a collection.

Third-Degree Price Discrimination

A pricing strategy where a seller charges different prices to different consumer groups for the same product, based on their willingness to pay.