The Long-Run Phillips Curve Indicates That the Consequences of Trying

question 31

Multiple Choice

The long-run Phillips curve indicates that the consequences of trying to reduce unemployment below its natural rate would be:

• A)an ever-rising rate of unemployment.
• B)an inflation rate equal to zero.
• C)a very high uncontrollable rate of inflation.
• D)a very low rate of inflation.
• E)a natural rate of unemployment equal to zero.

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Definitions:

Consideration Concerns

involve being mindful and accommodating of the feelings, needs, and interests of others.

Structure Concerns

Refers to issues or considerations related to the organization, layout, or framework of a system or entity.

Worker Bee

A term often used metaphorically to describe someone who is industrious and hardworking, usually in a collective or organizational setting.

Leader

A person who guides or directs a group, organization, or country by providing vision, inspiration, and direction.