The Phillips Curve Indicates That When the Labor Market Is

question 62

Multiple Choice

The Phillips curve indicates that when the labor market is ________,production costs will ________ and aggregate supply increases.

• A)easy;rise
• B)easy;fall
• C)tight;fall
• D)tight;rise

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Definitions:

Material Resources

Physical and tangible assets or substances that are used in the production of goods and services or in achieving goals.

Positive Outcomes

Favorable results or benefits stemming from a particular course of action or condition.

Noxious

Harmful, poisonous, or very unpleasant.

Unwanted Stimulus

Any external event or situation that is not desired or is considered unpleasant by an individual, potentially leading to stress or discomfort.