Current Thinking on the Phillips Curve Suggests That It Would

question 83

Multiple Choice

Current thinking on the Phillips curve suggests that it would be best for policy makers to:

• A)focus on controlling unemployment.
• B)stimulate permanent shifts in aggregate supply.
• C)focus on controlling inflation.
• D)stimulate permanent shifts in aggregate demand.
• E)develop a two-pronged policy to control both unemployment and inflation.

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Definitions:

Individualist

A person who prioritizes personal goals and autonomy over group goals and conformity.

Apathetic

Showing or feeling no interest, enthusiasm, or concern about something.

Ethical Mindfulness

An approach to ethics that emphasizes awareness and consideration of ethical implications and consequences in decision-making.

Conscious Decision

A choice made with full awareness and thoughtful consideration, as opposed to actions taken impulsively or without deliberation.