The Long-Run Phillips Curve Applies When the Economy Is at Full

question 9

Multiple Choice

The long-run Phillips curve applies when the economy is at full employment, so the long-run Phillips curve is ________, which demonstrates that changes in the inflation rate ________ effect on unemployment.

• A) vertical; have an
• B) an upward-sloping straight line with a 45° slope; have an
• C) vertical; have no
• D) horizontal; have no
• E) a downward-sloping straight line with a 45° slope; have an

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Definitions:

Breadwinner

Traditionally refers to the primary or sole income earner within a household, responsible for financial support.

Reemployed

The state of being employed again after a period of unemployment.

Salary Negotiable

A situation where the pay rate for a job position can be discussed and potentially adjusted based on the qualifications or expectations of the candidate.

Male-Dominated Field

A profession or area of work where men significantly outnumber women and often hold most of the positions of power.