The Inflation and Unemployment Data for the 1970s Suggest That

question 119

Multiple Choice

The inflation and unemployment data for the 1970s suggest that the aggregate-supply shocks of that period caused the

• A) relationship between the unemployment rate and the rate of inflation to remain stable and predictable and to exhibit a clear trade-off.
• B) relationship between the unemployment rate and the rate of inflation to be similar to that found during the 1960s.
• C) Phillips Curve to shift to the right.
• D) Phillips Curve to shift to the left.

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Definitions:

Structural Functionalism

A theory in sociology that considers society to be a sophisticated system where various components interact to foster cohesion and order, emphasizing the roles and purposes of social structures.

Dysfunction

In sociology, refers to any social pattern that disrupts the operation of society, leading to conflict and decreased stability.

Social Structure

The complex framework of societal institutions, social relations, and norms that shape the behavior and interactions of individuals within a society.

Consensual Nature

Pertains to the aspect of agreements or decisions that are reached by all members of a group collectively.