Most Economists Think That, in the Short Run, There Is

question 123

Multiple Choice

Most economists think that, in the short run, there is

• A)a trade-off between inflation and unemployment, but not in the long run.
• B)no trade-off between inflation and unemployment, nor is there one in the long run.
• C)a trade-off between inflation and unemployment, and in the long run also.
• D)no trade-off between inflation and unemployment, but there is one in the long run also.

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Definitions:

Partnership

When the ownership and responsibilities of a business are shared by two or more people with a view toward profit.

Incorporation Process

The series of legal steps taken to form a legally recognized company or corporation.

Jurisdiction

The official power to make legal decisions and judgments, typically a geographic area or over certain types of legal cases.

Advantages

The positive, beneficial aspects or factors contributing to success, efficiency, or achievement of goals.