The Vertical Long-Run Phillips Curve

question 38

Multiple Choice

The vertical long-run Phillips curve

• A) implies that the Fed cannot influence the unemployment rate in the long run.
• B) implies that the Fed can influence the unemployment rate in the long run.
• C) implies that the Fed can influence both the unemployment rate and the inflation rate in the long run.
• D) implies that the Fed can reduce the unemployment rate in the long run only at the expense of higher inflation rate.
• E) none of the above.

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Definitions:

Friendship Groups

Social circles or clusters of individuals who share common interests, activities, and provide emotional support to each other.

Lower Grades

Refers to the lower scores received on assignments, tests, or overall academic performance.

Middle Schools

Educational institutions that cater to students typically in the 6th through 8th grades, serving as a bridge between elementary and high school.

Bullied

Being subjected to repeated aggressive behavior, whether physical, verbal, or relational, by another individual or group.