In Late 2008, Great Britain's Inflation Rate Fell from 5

question 319

Multiple Choice

In late 2008, Great Britain's inflation rate fell from 5.2 percent to 4.5 percent while unemployment was increased from 5.4 percent to 6 percent. These changes would be shown as a

• A) leftward shift of the long-run Phillips curve.
• B) movement up along the short-run Phillips curve.
• C) movement down the short-run Phillips curve.
• D) rightward shift of the long-run Phillips curve.

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Definitions:

Disjunctive Task

A task for which the group’s performance is dependent on the performance of the best group member.

Social Loafing

The situation in which persons show reduced effort in achieving objectives when they are part of a team versus working individually.

Self-Managed Teams

Groups of employees who are given the autonomy and responsibility to manage themselves and their work tasks without direct supervision.

Specialized Roles

Positions or jobs within an organization that require a specific set of skills or expertise, contributing to more efficient and effective performance.