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

question 156

Multiple Choice

The long-run Phillips curve shows the relationship between the inflation rate and the unemployment rate when the economy is

• A) at full employment.
• B) in expansion.
• C) in recession.
• D) at full inflation.
• E) away from potential GDP.

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Definitions:

Lactate Fermentation

An anaerobic metabolic process by which glucose or other six-carbon sugars are converted into cellular energy and the metabolite lactate, commonly used by muscle cells during intense activity.

Hydrogen Ion Gradient

A hydrogen ion gradient is the differential concentration of hydrogen ions (protons) across a membrane, important in processes such as ATP synthesis.

Electron Transfer Chain

A series of complexes that transfer electrons through a membrane within mitochondria to produce ATP, the energy currency of the cell.

Free Radicals

Atoms or groups of atoms with unpaired electrons that are highly reactive, potentially causing damage to cells and DNA.