The Short-Run Phillips Curve Intersects the Long-Run Phillips Curve at the

question 60

Multiple Choice

The short-run Phillips curve intersects the long-run Phillips curve at the

• A) natural interest rate.
• B) nominal interest rate.
• C) natural inflation rate.
• D) expected inflation rate.

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Definitions:

Mayflower Compact

Document signed in 1620 aboard the Mayflower before the Pilgrims landed at Plymouth; the document committed the group to majority-rule government.

Government

The system or group of people governing an organized community, often a state, including its institutions, laws, and policies.

Plymouth Colony

An early settlement established in 1620 by English Puritans in present-day Massachusetts, known for the celebrated Thanksgiving feast.

Mayflower Compact

An agreement reached by the Pilgrims on the Mayflower in 1620, establishing self-governance in Plymouth Colony.