The Idea That the Long-Run Phillips Curve Is

question 118

Multiple Choice

The idea that the long-run Phillips curve is

• A)vertical stems from the analysis of Samuelson and Solow.
• B)vertical stems from the analysis of Friedman and Phelps.
• C)vertical was disproved by the experiment that monetary and fiscal policymakers inadvertently created in the 1970s.
• D)downward-sloping can be correct if unemployment responds very quickly to unexpected inflation.

---

Definitions:

Strategic Importance

The significance of an action or entity in achieving long-term goals and sustaining competitive advantage.

Support Activity

Operations within a company that aid the primary activities in contributing to the business's value chain, such as human resources and information technology.

Primary Activity

Primary activity is a principal operation or function directly involved in creating and delivering a product or service, such as production, marketing, and sales.

Strategic Priority Analysis

The process of identifying and evaluating the importance and urgency of different strategic initiatives or actions to achieve business objectives.