-Consider the Phillips Curve in Figure 12

question 12

Multiple Choice

-Consider the Phillips curve in Figure 12.3.At point b,__________,and at point a,__________.

• A)the economy is in recession;the economy is booming
• B)the economy is in recession;the economy is in its long-run equilibrium
• C)the economy is in recession;the economy is in recession
• D)the economy is booming;the economy is in recession
• E)the economy is in its long-run equilibrium;the economy is in recession

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Definitions:

James Meredith

An American civil rights activist, the first African American student to integrate the University of Mississippi in 1962, amid widespread rioting and opposition.

ROTC

A college-based program for training commissioned officers of the United States Armed Forces.

Nikita Khrushchev

A Soviet leader during the Cold War, known for de-Stalinization, the Cuban Missile Crisis, and his role in the space race.