The Phillips Curve Is a Statistical Relationship That Was Misrepresented

question 49

Multiple Choice

The Phillips curve is a statistical relationship that was misrepresented as showing

• A)disequilibrium outcomes of uncoordinated policy.
• B)alternative equilibrium points that the economy could achieve.
• C)the unemployment rates necessary to close a recessionary gap.
• D)the increases in interest rates from different inflation rates.

---

Definitions:

Nomothetic Goals

Objectives or aims that apply universally, seeking to establish general laws and principles about human behavior.

Strategic

Pertaining to the identification of long-term goals and the creation of plans to achieve these goals, often in the context of business or military operations.

Primary Goals

The main objectives or targets that an individual or group aims to achieve.

David McClelland

A psychologist known for his work on motivation, specifically the Theory of Needs concerning achievement, power, and affiliation.