The Following Question Are Based on the Following Graph, Which

question 8

Multiple Choice

The following question are based on the following graph, which shows two different Phillips curves, labeled (1) and (2) :

-Phillips curve (2) could shift up to curve (1) as a result of

• A) the decreased bargaining power of unions.
• B) expectations of a higher rate of inflation.
• C) a higher level of training of the labor force.
• D) increased labor productivity.
• E) decreased government spending.

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Definitions:

Detectable Trend

A pattern or direction in data that can be identified through analysis, often indicating a significant change or development over time.

Five-Month Moving Average

A forecasting method that calculates the average of data points (such as sales or temperatures) over five consecutive months to identify trends.

Past Data Points

Historical information or measurements that are used for analysis or to predict future trends.

Exponential Smoothing

A time series forecasting method for univariate data that applies decreasing weights to past observations.