An Inverse Relationship Between Unemployment and Inflation Arises

question 3

Multiple Choice

An inverse relationship between unemployment and inflation arises

• A) as a mathematical definition, regardless of economic events
• B) when technological shocks are the primary force of change in the economy and wage adjustments are rapid
• C) when shifts in aggregate demand cause most of the fluctuations in the economy, and wages are sluggish
• D) when aggregate demand is stable while aggregate supply is shifting
• E) in the long run but not in the short run

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Definitions:

Sales Orientation

Sales orientation is a business approach that prioritizes selling products and services through aggressive promotion and sales techniques.

Marketing Concept

The idea that an organization should try to satisfy customers’ needs through coordinated activities that also allow it to achieve its own goals.

Durable Goods

Consumer products that have a long life span and are not consumed or worn out quickly.