The Slope of the Short-Run Phillips Curve Is Consistent with the

question 68

Multiple Choice

The slope of the short-run Phillips curve is consistent with the

• A) long-run tradeoff between the unemployment rate and inflation.
• B) long-run tradeoff between inflation and GDP.
• C) short-run tradeoff between the money supply and interest rates.
• D) short-run tradeoff between business productivity and wage contracts.
• E) short-run tradeoff between the unemployment rate and inflation.

---

Definitions:

Customs Tariff

A schedule of duties imposed by a government on imported or exported goods.

Traded Commodities

Goods or raw materials that are bought and sold on commodity exchanges or the open market.

Extraterritorial Application

Laws or legal mandates that are applied beyond the territorial boundaries of the jurisdiction that created them.

Licensing Arrangement

A legal agreement allowing one party to use another's property, such as intellectual property, under certain conditions.