If the Natural Rate of Unemployment Falls

question 133

Multiple Choice

If the natural rate of unemployment falls,

• A)both the short-run Phillips curve and the long-run Phillips curve shift.
• B)only the short-run Phillips curve shifts.
• C)only the long-run Phillips curve shifts.
• D)neither the short-run nor the long-run Phillips curves shift.

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Definitions:

Individualist Cultures

Societies that prioritize the needs and rights of the individual over those of the group or community.

Pathogens

Microorganisms that cause disease in host organisms, including bacteria, viruses, fungi, and parasites.

Human Language

Human language is a complex system of communication that is capable of expressing a vast and nuanced range of ideas, emotions, and information.

Division of Labor

The allocation of different tasks or jobs to different people or groups, usually to improve efficiency and productivity in work.