The Vertical Long-Run Phillips Curve

question 20

Multiple Choice

The vertical long-run Phillips curve

• A) indicates the permanent unemployment rate
• B) indicates the unemployment rate at the optimal level of GDP
• C) is only one of several vertical curves that together are called interest rate targets
• D) indicates the economy's natural rate of unemployment
• E) is more socially desirable than a horizontal Phillips curve would be

---

Definitions:

Interpersonal Attraction

The force that draws people together and creates the desire for ongoing relationships, influenced by physical attractiveness, similarity, social exchange, and other factors.

Time Is A Map

A metaphorical expression implying that time can be organized, navigated, and understood in a structured way, similar to how a map organizes and represents spatial data.

Flow Time

The duration of time a process takes from start to finish, often used to measure the efficiency of production or service systems.

Leisure Time

Free time not occupied by work or essential tasks, which can be used for rest, relaxation, or activities of personal interest.