What Is the Difference Between the Short-Run Phillips Curve and the Long-Run

question 39

Multiple Choice

What is the difference between the short-run Phillips curve and the long-run Phillips curve?

• A)The long-run Phillips curve is horizontal, indicating that the unemployment rate may change but inflation remains the same, whereas the short-run curve is vertical.
• B)The long-run Phillips curve slopes upward, indicating a positive relationship between the unemployment rate and inflation, whereas the short-run curve slopes downward.
• C)The long-run Phillips curve is vertical, indicating that the unemployment rate may change but inflation does not, whereas the short-run curve is positively sloped.
• D)The long-run Phillips curve is vertical, indicating that inflation may change but the unemployment rate does not, whereas the short-run curve is negatively sloped.
• E)The long-run Phillips curve is negatively sloped, indicating an inverse relationship between unemployment and inflation, whereas the short-run curve is vertical.

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Definitions:

Small Intestine

A part of the gastrointestinal tract between the stomach and the large intestine that is responsible for most of the digestion and absorption of nutrients.

Cholecystokinin

A hormone released by the small intestine in response to the ingestion of fats, playing a critical role in digestion by stimulating the gallbladder to release bile.

Glossopharyngeal Nerve

The ninth cranial nerve, responsible for sensory and motor functions in the throat, including taste sensation and swallowing.

Mastication

The activity of processing food by chewing, aimed at preparing it for swallowing and digestion.