Refer to the Following Figure When Answering
Figure $\tilde { Y } _ { t , 2 }$

question 26

Multiple Choice

Refer to the following figure when answering
Figure 9.3: Phillips Curve
-Consider the Phillips curve at $\tilde { Y } _ { t , 2 }$ in Figure 9.3. The economy is:

• A) booming
• B) inflationary
• C) in recession
• D) at potential output
• E) Not enough information is given to determine.

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Definitions:

Moral Obligation

A duty which one is morally compelled to perform based on ethical principles and understanding of right and wrong.

Hindu

Relating to Hinduism, a major world religion originating on the Indian subcontinent and comprising various philosophies, beliefs, and rituals.

Polytheistic Religion

A belief system that recognizes the existence of many gods or deities, each with distinct attributes and areas of influence.

Moral Obligation

A duty which one owes, and which he ought to perform, but which he is not legally bound to fulfill.