The Short-Run Phillips Curve Shows ________ Between the Unemployment Rate

question 56

Multiple Choice

The short-run Phillips curve shows ________ between the unemployment rate and the inflation rate and the long-run Phillips curve shows ________ between the unemployment rate and the inflation rate.

• A) a negative relationship; no relationship
• B) a negative relationship; a positive relationship
• C) no relationship; no relationship
• D) no relationship; a negative relationship
• E) a positive relationship; a negative relationship

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Definitions:

Tunnel Vision

A cognitive bias that creates a focus on a single goal or perspective, often leading to overlooking other relevant information or alternatives.

Social Pressure

The influence that is exerted on an individual or group by another individual or group, encouraging conformity to behaviors, beliefs, or values.

Excessive Time

Spending more time than is necessary or advantageous on a task or activity, potentially leading to inefficiency or burnout.

Powerful Coalition

An alliance of influential groups or individuals formed to achieve a specific goal or undertake a project.