Which of the Following Is Correct Concerning the Long-Run Phillips

question 97

Multiple Choice

Which of the following is correct concerning the long-run Phillips curve?

• A)Its position is determined primarily by monetary factors.
• B)If it shifts right,long-run aggregate supply shifts right.
• C)It cannot be changed by any government policy.
• D)Its position depends on the natural rate of unemployment.

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Definitions:

Personal Traits

characteristics or qualities that define an individual's personality and behavior.

Situational Influences

Factors in the environment or specific situation that affect people's behavior, decisions, and feelings.

Role Playing

A method of training or therapeutic intervention where individuals act out roles in a simulated situation, often used to develop skills or resolve conflicts.

Fundamental Attribution Error

A cognitive bias where people tend to overemphasize personal characteristics and underestimate situational factors in explaining others' behavior.