According to Friedman and Phelps,the Unemployment Rate

question 233

Multiple Choice

According to Friedman and Phelps,the unemployment rate

• A)depends on neither actual or expected inflation.
• B)is below its natural rate when actual inflation is greater than expected inflation.
• C)is below its natural rate when actual inflation is less than expected inflation.
• D)is below its natural rate when actual inflation equals expected inflation.

Understand the economic, social, and political impacts of the Great Depression on American society.

Recognize the responses of the Hoover administration to the economic crisis and their effectiveness.

Identify the cultural and societal shifts during the 1920s and early 1930s, including the Harlem Renaissance and the changing roles of women.

Understand the role of propaganda and public sentiment towards foreign influences, unionism, and socialism during the 1920s.