Most Economists Now Agree That the Phillips Curve Demonstrates That

question 90

Multiple Choice

Most economists now agree that the Phillips curve demonstrates that there is

• A)an unemployment-inflation trade-off in the long run, but not in the short run.
• B)an unemployment-inflation trade-off in both the short run and the long run.
• C)an unemployment-inflation trade-off in the short run, but not the long run
• D)no unemployment-inflation trade-off in either the short run or the long run.

---

Definitions:

Turnover

The rate at which employees leave a workplace and are replaced by new personnel.

Underlying Attitude

A person’s enduring beliefs or feelings about an object or concept that influence their behavior, often without their conscious awareness.

Future Behavior

Future behavior refers to actions or reactions that an individual is expected to perform in the future, based on various predictors.

Cognitive Dissonance

A psychological discomfort experienced when holding two or more conflicting beliefs, ideas, or values at the same time.