The Short-Run Phillips Curve Shows

question 207

Multiple Choice

The short-run Phillips curve shows

• A) potential GDP.
• B) a tradeoff between the unemployment rate and the inflation rate.
• C) the natural unemployment rate.
• D) the expected inflation rate.
• E) a tradeoff between real GDP and unemployment.

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Definitions:

Checks

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer.

Void

Having no legal force or effect; not legally binding or enforceable.

Holder in Due Course

A legal term in commercial law for a person who has acquired a negotiable instrument in good faith and for value, and thus has certain protections.

Instrument

A formal document, such as a contract, will, or legal filing, that records and formalizes rights, obligations, or transactions.