Historically,Brazil Has Suffered Higher and More Variable Rates of Inflation

question 1

Multiple Choice

Historically,Brazil has suffered higher and more variable rates of inflation than Venezuela.You would expect the short-run aggregate supply curve of Brazil to be ________ than that of Venezuela,and the Phillips curve of Brazil to be ________ than that of Venezuela.

• A)flatter; flatter
• B)flatter; steeper
• C)steeper; flatter
• D)steeper; steeper

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Definitions:

Independent Variable

In an experiment, the variable that is manipulated or changed to observe its effect on the dependent variable.

Dependent Variable

In an experiment, the variable that is being tested and measured, often to see if it is affected by changes in another variable (the independent variable).

Correlated

When two or more variables are related in some way, indicating that changes in one variable are associated with changes in another.

Experiment

A scientific procedure undertaken to make a discovery, test a hypothesis, or demonstrate a known fact.