If the Natural Unemployment Rate Increases, Then the Short-Run Phillips

question 219

Multiple Choice

If the natural unemployment rate increases, then the short-run Phillips curve shifts ________ and the long-run Phillips curve shifts ________.

• A) rightward; rightward
• B) rightward; leftward
• C) leftward; rightward
• D) leftward; leftward

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Definitions:

Markov Model

A statistical model that predicts future states based on current events, widely used in fields like economics and speech recognition.

Tracking

This involves the process of monitoring and recording the movement or progress of an object, person, or trend over time.

Planning Time Horizon

The future time period over which an organization or individual sets goals and prepares strategies to achieve them.

Movement Analysis

A technique used to analyze the chain or ripple effect that promotions or job losses have on the movements of employees.