The Long-Run Phillips Curve

question 28

Multiple Choice

The long-run Phillips curve:

• A) is downward sloping.
• B) is upward sloping.
• C) shows there is no tradeoff between unemployment and inflation.
• D) is horizontal at the natural rate of inflation.

---

Definitions:

Accounting Records

Documents and ledgers that contain the financial transactions and information of an entity, used to prepare financial statements.

Capital Section

Part of a company’s balance sheet that details the funding provided by owners and investors, including paid-in capital and retained earnings.

Revenue Section

Part of the income statement that details the amounts earned from normal business operations, excluding expenses to calculate gross profit.

Asset Section

Part of a balance sheet that lists a company's assets, including current and non-current (or long-term) assets.