If the Economy Is at the Point Where the Short-Run

question 58

Multiple Choice

If the economy is at the point where the short-run Phillips curve intersects the long-run Phillips curve,

• A)unemployment equals the natural rate and expected inflation equals actual inflation.
• B)unemployment is above the natural rate and expected inflation equals actual inflation.
• C)unemployment equals the natural rate and expected inflation is greater than actual inflation.
• D)None of the above is necessarily correct.

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Definitions:

Nasal Cavity

The Nasal Cavity is the air passage starting at the nostril and extending to the back of the throat that functions in breathing, smelling, and filtering particulates from inhaled air.

Alimentary Canal

The alimentary canal is the whole passage along which food passes through the body from mouth to anus, including the esophagus, stomach, and intestines, digesting and absorbing food along the way.

Esophagus

The muscular tube that transports food from the throat to the stomach by a series of coordinated muscle movements.

Oral Cavity

The mouth’s interior space, including the lips, gums, front portion of the tongue, and teeth, which plays a role in speech, digestion, and respiration.