The Position of the Long-Run Phillips Curve and the Long-Run

question 86

Multiple Choice

The position of the long-run Phillips curve and the long-run aggregate supply curve both depend on

• A)the natural rate of unemployment and monetary growth.
• B)the natural rate of unemployment,but not monetary growth.
• C)monetary growth,but not the natural rate of unemployment.
• D)neither monetary growth nor the natural rate of unemployment.

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Definitions:

Psycho-motor Energy

A term related to the connection between mental processing and physical movement.

Homeostasis

The process by which a living organism or system maintains stable internal conditions necessary for survival, despite changes in the external environment.

Equilibrium

A state of balance or stability, often referring to psychological or emotional balance.

Conscious

The state of being aware of and able to think about one's own existence, sensations, thoughts, surroundings, and experiences.