If the Short-Run Phillips Curve Has a Very Shallow (Or

question 100

Multiple Choice

If the short-run Phillips curve has a very shallow (or flat) slope,

• A)​the self-correcting mechanism cannot work.
• B)​the structural deficit will grow in a recession.
• C)​the structural deficit will fall in a recession.
• D)​the inflation costs of reducing unemployment are fairly low.

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Definitions:

Basic Needs

Fundamental requirements that serve as the foundation for survival and well-being, often categorized into physiological, safety, love/belonging, esteem, and self-actualization needs.

Self-Evaluation

The process of reflecting on and judging one's own actions, abilities, and characteristics.

Relatedness

In psychology, a concept referring to how connections and relationships with others fulfill a fundamental human need, contributing to well-being and motivational states.

Self-Monitoring

The extent to which individuals regulate their behavior to fit the current social situation.