A Movement to the Left Along a Given Short-Run Phillips

question 54

Multiple Choice

A movement to the left along a given short-run Phillips curve could be caused by

• A)a reduction in the natural rate of unemployment or expansionary monetary policy.
• B)expansionary monetary policy, but not a reduction in the natural rate of unemployment.
• C)either a reduction in the natural rate of unemployment or a contractionary monetary policy.
• D)contractionary monetary policy, but not a reduction in the natural rate of unemployment.

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Definitions:

Permanently

Describing a condition or state that is intended to last indefinitely or for a lifelong duration.

Presumed Guilt

The principle or state of assuming an individual is guilty without evidence or before the completion of a fair and just legal process.

Legal System

The comprehensive framework of rules and institutions within a society that govern individuals, entities, and their interactions.

Commercial Bribery

The act of offering, giving, receiving, or soliciting something of value to influence the actions of a businessperson or employee without the knowledge or consent of the employer.