Policy-Makers in the 1960s Believed That There Was a Structural

question 145

Multiple Choice

Policy-makers in the 1960s believed that there was a structural relationship between unemployment and inflation. This meant that the cost of lower unemployment was a:

• A)permanently higher inflation rate.
• B)permanently lower inflation rate.
• C)temporarily higher inflation rate.
• D)temporarily lower inflation rate.

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Definitions:

Britain

A term often used interchangeably with Great Britain, referring to the island containing England, Scotland, and Wales, or more broadly to the United Kingdom which also includes Northern Ireland.

France

A country in Western Europe known for its rich history, cultural heritage, and significant contributions to art, science, and philosophy.

Individual Liberty

A principle that emphasizes the freedom of the individual to exercise certain rights and make choices without undue restraint by the government or society.

Great Awakening

Fervent religious revival movement in the 1720s through the 1740s that was spread throughout the colonies by ministers like New England Congregationalist Jonathan Edwards and English revivalist George Whitefield.