The Long-Run Phillips Curve Shows the Relationship Between the ________

question 173

Multiple Choice

The long-run Phillips curve shows the relationship between the ________ and the ________ when there is no ________ unemployment.

• A) inflation rate; unemployment rate; cyclical
• B) inflation rate; unemployment rate; structural
• C) inflation rate; employment rate; seasonal
• D) nominal interest rate; real interest rate; frictional
• E) nominal interest rate; unemployment rate; cyclical

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Definitions:

Self-actualization

The realization or fulfillment of one's talents and potentialities, especially considered as a drive or need present in everyone.

Needs Hierarchy

A theory in psychology, proposed by Abraham Maslow, which posits that people are motivated to fulfill basic needs before moving on to other, more advanced needs.

Oxytocin

A hormone, secreted by the pituitary gland, that stimulates uterine contractions during childbirth, facilitates the ejection of milk during nursing, and seems to promote, in both sexes, attachment and trust in relationships.

Liquid Trust

A concept referring to a spray or product claimed to contain oxytocin, which supposedly increases trust and bonding between people.