In the 1960s, Many Economists and Policy Makers Considered the Trade-Off

question 182

Multiple Choice

In the 1960s, many economists and policy makers considered the trade-off between inflation and unemployment revealed in the Phillips curve to be permanent.This belief was challenged by ________, who argued that there is no trade-off between inflation and unemployment in the long run.

• A)Robert Lucas and Thomas Sargent
• B)Finn Kydland and Edward Prescott
• C)Paul Samuelson and James Tobin
• D)Milton Friedman and Edmund Phelps
• E)Paul Krugman and Joseph Stiglitz

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Definitions:

Mirror Neurons

Certain neurons that are activated both when one performs an action oneself and when one observes another person perform that action.

Mirror Neurons

Neurons that fire both when an individual acts and when the individual observes the same action performed by another. This mechanism is thought to be connected to empathy and understanding of others' actions.

Interneurons Neurons

Specialized neurons that serve as the link between sensory neurons and motor neurons, playing a crucial role in reflexes and neural circuits.

Rehearsal Cells

Neurons believed to be involved in the process of mentally rehearsing or practicing actions or thoughts.