Which Statement Characterizes the Long-Run Phillips Curve

question 180

Multiple Choice

Which statement characterizes the long-run Phillips curve?

• A) Its position is determined primarily by monetary factors.
• B) If it shifts right, long-run aggregate supply shifts right.
• C) It cannot be changed by any government policy.
• D) Its position depends on the natural rate of unemployment.

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Definitions:

Consumer Prices

The prices paid by consumers for goods and services, which can fluctuate based on supply and demand, inflation, and other economic factors.

Student Absenteeism

Refers to the habit of students missing school frequently without valid reasons, affecting their academic performance.

Randomly Selected

A method or process where selections are made in such a way that each item or person has an equal chance of being chosen, ensuring unbiased results.

Control Group

A group in an experiment or study that does not receive treatment, used as a benchmark to measure the effects of the treatment.