The Short-Run Phillips Curve Shows the Relationship Between

question 47

Multiple Choice

The short-run Phillips curve shows the relationship between

• A)the price level and real GDP in the short run.
• B)the price level and unemployment in the short run.
• C)unemployment and real GDP in the short run.
• D)inflation and unemployment, when inflation expectations can change.
• E)inflation and unemployment, when the expected inflation rate and the natural unemployment rate remain constant.

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Definitions:

Nonevolving Population

A theoretical population in which allele frequencies do not change over time, effectively not undergoing evolution.

Speciation

Origin of new species due to the evolutionary process of descent with modification.

Genetic Drift

A mechanism of evolution that involves random changes in the frequency of alleles within a population over time.

Allele

Alternative form of a gene; alleles occur at the same locus on homologous chromosomes.