In the Long Run, What Are the Effects of a Decrease

question 153

Multiple Choice

In the long run, what are the effects of a decrease in the rate of growth of the money supply?

• A) It will increase inflation and shift the short-run Phillips curve right.
• B) It will increase inflation and shift the short-run Phillips curve left.
• C) It will decrease inflation and shift the short-run Philips curve right.
• D) It will decrease inflation and shift the short-run Phillips curve left.

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Definitions:

Socialization

The method through which people acquire and assimilate the standards, values, actions, and social competencies relevant to their community.

Significant Other

A person of great importance in one's life, typically a romantic or life partner.

Generalized Other

A concept in sociology that refers to the general notion that a person has of the common expectations and attitudes in society.

Adaptation

Is the process of changing one’s actions to maximize the degree to which an environment satisfies one’s needs and interests.