The Long-Run Phillips Curve Shows the Relationship Between

question 197

Multiple Choice

The long-run Phillips curve shows the relationship between

• A) the price level and real GDP in the long run.
• B) the price level and unemployment in the long run.
• C) inflation and unemployment when expected inflation equals the actual inflation.
• D) inflation and unemployment when expected inflation does not change.

---

Definitions:

Layers Rotate

Geological process in which layers or strata of rock are tilted or turned from their original horizontal or vertical positions.

Basin and Range Province

A vast geographical area in the United States characterized by alternating basins and mountain ranges, formed by stretching of the Earth's crust.

Gulf Coast Region

A geographical area in the United States bordering the Gulf of Mexico, known for its warm climate, wetlands, and as an important area for energy production and shipping.

Appalachian Mountains

A mountain range in eastern North America, extending from Canada to the southern United States, known for its rich biodiversity and history.