The Inflation and Unemployment Data for the 1970s Suggest That

question 118

Multiple Choice

The inflation and unemployment data for the 1970s suggest that the aggregate-supply shocks of that period caused the:

• A) Relationship between the unemployment rate and the rate of inflation to remain stable, predictable, and exhibited a clear tradeoff
• B) Relationship between the unemployment rate and the rate of inflation to be similar to that found during the 1960 and 1969 period
• C) Phillips Curve to shift to the right
• D) Phillips Curve to shift to the left

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Definitions:

Sales Discounts

Reductions from the listed price given by a seller to a buyer as an incentive to purchase.

Expense Accounts

These accounts are used to track the money spent or costs incurred in a company's operations.

Sales Discount

A reduction in the price charged to customers, typically given in exchange for prompt payment.

Discount Period

The discount period refers to the time frame in which a payment can be made at a reduced rate, typically in the context of early payment incentives to debtors.