In the Long Run, the Phillips Curve Will Be Vertical

question 256

Multiple Choice

In the long run, the Phillips curve will be vertical at the natural rate of unemployment if

• A) the long-run aggregate demand curve is vertical at potential output.
• B) the long-run aggregate demand curve is horizontal at the natural rate of inflation.
• C) the long-run aggregate supply curve is vertical at potential output.
• D) the long-run supply curve is horizontal at the natural rate of inflation.

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Definitions:

Projective Tests

Psychological assessments where individuals respond to ambiguous stimuli, revealing hidden emotions, desires, and internal conflicts.

Examiner

An individual who assesses others' knowledge, skills, or abilities in a specific area, often within an academic, professional, or vocational context.

Projective Tests

Psychological assessments that use ambiguous stimuli, such as inkblots or incomplete sentences, to elicit responses that reflect the respondent's inner thoughts, feelings, and conflicts.

Reliability

The consistency and dependability of a measurement or assessment tool over time.