A Change in the Natural Unemployment Rate

question 7

Multiple Choice

A change in the natural unemployment rate

• A) shifts only the short-run Phillips curve.
• B) causes a movement along the short-run Phillips curve.
• C) shifts only the long-run Phillips curve.
• D) shifts both the short-run and long-run Phillips curves.

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Definitions:

Sales

The transactions in which goods or services are transferred from seller to buyer for money or other compensation.

Cost of Goods Sold

Costs directly linked to the creation of products sold by a firm, such as the expenses for materials and workforce.

Income from Operations

The profit generated from a company's regular, core business activities, excluding non-operating income and expenses.