(I)   in the 1960s and 1970s, Most Economists Believed That

question 124

Multiple Choice

(I)    In the 1960s and 1970s, most economists believed that there was a permanent trade-off between inflation and unemployment.
(II)   Today, most economists believe there is no permanent trade-off between inflation and unemployment.

• A) Both I and II are true.
• B) Both I and II are false.
• C) I is true; II is false.
• D) I is false; II is true.

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Definitions:

Conclusion

The end or finish of an event, process, or text; in logic, it is the statement that necessarily follows from the premises of an argument.

Categorical Syllogism

A form of deductive reasoning consisting of three propositions: a major premise, a minor premise, and a conclusion, each of which states a relationship between categories.

Propositions

Statements or assertions that express judgments or opinions which can be either true or false.

Categorical Propositions

Statements in logic that assert or deny something about all or some of the members of a category, involving a subject and predicate and following specific forms.