Suppose That Weather Around the World Is Especially Good Next

question 40

Multiple Choice

Suppose that weather around the world is especially good next year, so farmers have unusually good crops. What might we expect that this will do to the short-run and long-run Phillips curves?

• A) This will shift both the short-run and long-run Phillips curves to the right.
• B) This will shift both the short-run and long-run Phillips curves to the left.
• C) This will shift the short-run Phillips curve to the left, but not affect the long-run Phillips curve.
• D) This will shift the long-run Phillips curve to the left, but not affect the short-run Phillips curve.

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Definitions:

Case studies

Research method involving an up-close, in-depth, and detailed examination of a subject of study (the case), as well as its related contextual conditions.

Naturalistic observation

An examination method where people are observed in their natural habitat without any control or influence from the person conducting the research.

Rare events

Occurrences that happen infrequently or have a very low probability of taking place, often of significant interest in statistical analysis and study.

Content analysis

A research method used to systematically analyze the content of communication media through coding and identifying patterns or themes.