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A Policy Change That Reduced the Natural Rate of Unemployment

question 112

True/False

A policy change that reduced the natural rate of unemployment would shift both the long-run aggregate-supply curve and the long-run Phillips curve left.


Definitions:

Redundant Part

A backup component or section in machinery, systems, or products, designed to take over in case the primary part fails.

Reliability

Reliability describes the ability of a system or component to perform its required functions under stated conditions for a specified period.

Parallel

An approach or system configuration where tasks or processes are run simultaneously, often to increase efficiency or throughput.

Series

A sequence of data points or elements that follow a particular order, often used in statistics, mathematics, and various scientific disciplines to analyze trends or patterns.

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