The Economic Theory That Suggested an Alternative to the Rising

question 53

Multiple Choice

The economic theory that suggested an alternative to the rising unemployment and inflation that the static Phillips curve analysis could not explain was the:

• A)new classical economic theory.
• B)monetarist economic theory.
• C)new Keynesian economic theory.
• D)classical economic theory.
• E)traditional Keynesian economic theory.

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Definitions:

Best Person

Best person refers to the most suitable candidate for a position or role, often selected based on skills, experience, and fit with the company culture and values.

Least Cost

Least cost refers to the approach or method that involves the lowest possible expenditure or use of resources to achieve a specific goal or output.

Regardless Of Fit

Making decisions or evaluations without considering how well someone or something matches or aligns with a specific role or context.

Employment Equity Legislation

Laws and regulations aimed at eliminating employment barriers and discrimination against marginalized or underrepresented groups, ensuring fairness and diversity in the workforce.