Use the Information Below to Answer the Following Questions

question 48

Multiple Choice

Use the information below to answer the following questions.
Fact 28.4.1 Eurozone Unemployment Hits Record High As Inflation Rises Unexpectedly
Eurozone unemployment rose to 10.7 percent. At the same time, Eurozone inflation unexpectedly rose to 2.7 percent a year, up from the previous month's 2.6 percent a year.
Source: Huffington Post, March 1, 2012
-Consider Fact 28.4.1. A very high unemployment rate can be accounted for by the Phillips curve model by all of the following except

• A)a movement down along the short-run Phillips curve if there is no change in the natural unemployment rate.
• B)a rightward shift of the short-run Phillips curve if the natural unemployment rate increases.
• C)a rightward shift of the long-run Phillips curve if the natural unemployment rate increases.
• D)a movement up along the long-run Phillips curve if the natural unemployment rate increases.
• E)All of the above give explanations for a high unemployment rate.

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Definitions:

Enabling Statute

A law that gives a government entity or agency the authority to take specific actions.

Zoning

Regulations governing the use of land and structures within certain areas to control and direct urban growth and land use.

Lien Theory

A legal theory under which real estate acts as security for the repayment of a debt, with the lender holding an interest in the property until the mortgage is paid in full.

Title Theory

A legal concept in real estate that posits that the mortgage lender holds the title to the property until the mortgage is fully paid off.