In the Long Run, the Phillips Curve Is a ________

question 48

Multiple Choice

In the long run, the Phillips curve is a ________ at ________.

• A)horizontal line; 0% inflation
• B)negatively sloped line; the intersection of aggregate demand and short-run aggregate supply
• C)vertical line; the natural rate of unemployment
• D)vertical line; the expected rate of inflation
• E)positively sloped line; the current rate of GDP growth

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Definitions:

Psychosocial Development

A theory proposed by Erik Erikson that outlines eight stages through life, from infancy to adulthood, where individuals face and resolve conflicts that impact their social and personal development.

Erikson

Psychologist Erik H. Erikson developed a theory of psychological development that identifies eight stages from infancy to adulthood, each characterized by a central conflict.

Continuous Development

A perspective on human development which sees changes as gradual and incremental, without sudden shifts or distinct stages.

Discontinuous Development

The concept that development occurs in distinct stages that are qualitatively different from each other rather than as a smooth, continuous progression.