If the Short-Run Phillips Curve Has a Very Flat Slope

question 44

Multiple Choice

If the short-run Phillips curve has a very flat slope, the

• A)structural deficit will grow during inflation.
• B)structural deficit will fall during recession.
• C)inflation costs of reducing unemployment are relatively low.
• D)inflation costs of reducing unemployment are relatively high.

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Definitions:

Population Means

The average of a set of values in a population, representing the central tendency of the population data.

Sample Mean Difference

The difference between the mean values of two samples, used in statistical testing to compare two groups.

T-Test

A statistical test used to determine if there is a significant difference between the means of two groups.

Independent Populations

Populations that are not connected or influenced by each other, implying that the observations in one population are not affected by those in another.