In the Long Run,which of the Following Would Shift the Long-Run

question 61

Multiple Choice

In the long run,which of the following would shift the long-run Phillips curve to the right?

• A)an increase in the minimum wage
• B)an increase in government spending
• C)an increase in the money supply
• D)a decrease in the money supply

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Definitions:

Institutionalized Means

Established methods and procedures within societies for achieving valued goals, such as wealth, status, or power, that are widely accepted and sanctioned.

Cultural Goals

The idealized life objectives and values that a society encourages its members to pursue.

Innovator

An innovator is an individual or organization that introduces new ideas, products, or methods, often driving technological advancement or societal change.

Drug Legalization

The process of removing legal prohibitions against drugs, potentially subjecting them to regulation and taxation similar to alcohol and tobacco.