If the Long-Run Phillips Curve Is Vertical, Then Any Government

question 57

Multiple Choice

If the long-run Phillips curve is vertical, then any government policy designed to lower:

• A)unemployment will not change the unemployment rate and only increase the inflation rate.
• B)unemployment will work leaving the inflation rate unchanged.
• C)inflation will cause employment to rise.
• D)unemployment will work causing the inflation rate to fall.
• E)unemployment will work causing inflation to rise.

---

Definitions:

Loosely Schedule

An approach to planning that allows for flexibility and adaptability, rather than strict adherence to specific timelines.

Apparel Store

A retail establishment that specializes in selling clothing, accessories, and often footwear to consumers.

Opportunity Recognition

The ability to identify new business opportunities or ideas that could be viable for investment or development.

Loose-Tight Leadership

A leadership style that combines elements of flexibility and strict control, allowing for innovation while maintaining order.