In the Long Run ________

question 71

Multiple Choice

In the long run ________.

• A)the aggregate supply is vertical with respect to output
• B)the Phillips curve is vertical with respect to unemployment
• C)fluctuations in the inflation rate have no impact on output and unemployment
• D)all of the above
• E)none of the above

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Definitions:

Virtue Ethics

An ethical theory that emphasizes the role of an individual's character and virtues in evaluating the morality of actions.

Action Guidance

Advice or instructions intended to direct or influence the decisions and actions of individuals or groups.

Justifications

Reasoning or arguments presented to show that actions or decisions were reasonable or necessary under the circumstances.

Roman Philosopher

A philosopher from ancient Rome who contributed to various fields of philosophy, including ethics, politics, metaphysics, and logic.