The Long-Run Phillips Curve Is a Vertical Line at the Natural

question 118

True/False

The long-run Phillips curve is a vertical line at the natural rate of unemployment.

---

Definitions:

Aversive Event

An unpleasant or noxious stimulus that an organism seeks to avoid or escape.

Manipulate to Obtain

A strategic action of influencing or controlling someone or something to achieve a desired outcome.

Fixed-Ratio Schedule

In operant conditioning, a reinforcement schedule that reinforces a response only after a specified number of responses.

Specified Time

A clearly defined or identified moment or period on a timeline.