In the Long Run

question 135

Multiple Choice

In the long run,

• A) attempts to "fine-tune" the economy cause the rate of unemployment to accelerate.
• B) there is no inflation-unemployment trade-off.
• C) there is an inflation-unemployment trade-off, and the terms of that trade-off have worsened in recent years.
• D) there is an inflation-unemployment trade-off, but the terms of that trade-off have improved in recent years.

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Definitions:

Desirable Behavior

Actions or conduct that are considered positive, beneficial, or attractive according to social, cultural, or organizational standards.

Similar Settings

Environments or contexts that share common characteristics, features, or conditions.

Withdrawal

The act of removing oneself from participation in something, such as withdrawing money from a bank or withdrawing from social activities.

Likelihood

The probability or chance that a particular event will occur.