Friedman and Phelps Argued That

question 3

Multiple Choice

Friedman and Phelps argued that

• A)if peoples' inflation expectations were fixed,then an increase in the money supply growth rate could not change output in the short or long run.
• B)if peoples' inflation expectations were fixed,then a decrease in the money supply growth rate could raise output and unemployment in the short run.
• C)any change in unemployment created by making aggregate demand increase more rapidly is temporary because people eventually revise their inflation expectations.
• D)None of the above is correct.

Comprehend the differences between solicited and unsolicited application messages.

Understand the role of electronic applicant-tracking systems in job applications.

Recognize the importance of career gaps and how to effectively communicate them in applications.

Know strategies to encourage action in a persuasive message related to job applications.

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Definitions:

Brand Loyalty

The tendency of consumers to continuously purchase one brand's products over others because of perceived superiority or emotional attachment.

Herfindahl Index

An evaluation of corporations' sizes in contrast to the overall market, pointing to the level of rivalry among them.

Price Leadership

Price leadership is a market situation where one dominant firm sets the price for goods or services in an industry, and other firms follow suit, either explicitly or implicitly.