Which of the Following Is One Implication of the Phillips

question 38

Multiple Choice

Which of the following is one implication of the Phillips curve analysis?  

• A) Unemployment rates below the natural rate are possible only in the long run. 
• B) Unemployment rates below the natural rate lead to falling rates of inflation in the long run. 
• C) Unemployment rates below the natural rate may be achieved only with rising inflation rates. 
• D) The natural rate of unemployment is strictly a short-run phenomenon.

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Definitions:

Statute Of Limitations

is a law prescribing the time limit within which legal action must be commenced for alleged breaches of law or rights.

Parol Evidence Rule

A common law rule which states that oral evidence of an agreement made prior to or contemporaneously with a written agreement is inadmissible when the parties intend to have the written agreement be the complete and final version of their agreement.

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An explicit promise made by a seller about the quality or functionality of a product or service, forming part of the contract.

Warranty Of Trade Usage

An implicit guarantee that a product or service conforms to the customary standards and practices in a particular industry or trade.