Analysis of the Phillips Curve Reveals That a _____ in Unemployment

question 115

Multiple Choice

Analysis of the Phillips curve reveals that a _____ in unemployment, like that of the early 1980s, is needed to break the cycle of inflationary expectations.

• A) permanent increase
• B) permanent decrease
• C) temporary increase
• D) temporary decrease

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Definitions:

Parol Evidence Rule

A legal principle that prevents parties from using oral or extrinsic evidence to contradict or vary the terms of a written contract.

Condition Precedent

In contract law, an act or promise that must take place or be fulfilled before the other party is obligated to perform his or her part of the agreement.

Enforceable

Describes a legal agreement or contract that is valid and therefore can be upheld and enforced in a court of law.

Best Evidence Rule

A legal principle requiring the presentation of the original document as evidence in court, rather than copies, unless the original is unavailable.