A Decrease in Cyclical Unemployment Will

question 30

Multiple Choice

A decrease in cyclical unemployment will

• A) shift the long-run Phillips curve to the left.
• B) decrease the natural rate of unemployment.
• C) shift the short-run Phillips curve to the left.
• D) All of the above are correct.
• E) None of the above are correct.

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Definitions:

Singer Sewing Machines

Brand of sewing machines first established in 1851, known for its pivotal role in the development of the garment industry.

Kodak

A technology company historically known for its significant contributions to photography and imaging industries through the development of photographic films and cameras.

Industrial Capitalism

Economic system characterized by private or corporate ownership of capital goods, investments determined by private decision, and prices, production, and the distribution of goods determined mainly by competition in a free market.

Commercial Capitalism

An economic system where trade, goods, and capital are privately controlled and operated for profit, characterized by the emergence of market economies and merchant classes.