The Phillips Curve Shows That

question 46

Multiple Choice

The Phillips curve shows that

• A)the business cycle has been eliminated.
• B)an increase in inflation temporarily increases unemployment.
• C)inflation and unemployment are unrelated in the short run.
• D)a decrease in inflation temporarily increases unemployment.
• E)None of these answers.

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Definitions:

Idea Killer

Anything that stifles creativity or prevents good ideas from being expressed or considered.

Creative Problem Solving

A method of solving problems or identifying opportunities when conventional thinking has failed.

Assumption Smashing

A critical thinking approach that challenges and breaks down preconceived notions or beliefs to foster innovative thinking.

Illumination

The stage of the creative process involving a sudden realization or insight that leads to a solution.