In the Long Run

question 100

Multiple Choice

In the long run,

• A) the Phillips curve is upward sloping.
• B) the Phillips curve is downward sloping.
• C) monetary policy can influence the unemployment rate.
• D) monetary policy cannot influence the unemployment rate.
• E) the Phillips curve is horizontal.

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Definitions:

Prejudices

Preconceived opinions that are not based on reason or actual experience, often manifesting as an unfounded dislike or preference.

Critical Race Theory

An intellectual movement and framework that examines society and culture as they relate to categorizations of race, law, and power.

Colonial Past

relates to the historical period in which countries were governed and exploited by foreign powers for their resources, significantly influencing their current societies.

Economic Experiences

The diverse financial situations and interactions individuals or groups encounter, affecting their living standards and well-being.