If the Phillips Curve Represents a "Structural Relationship," Then

question 110

Multiple Choice

If the Phillips curve represents a "structural relationship," then

• A)the trade-off between unemployment and inflation is permanent.
• B)the trade-off between unemployment and inflation holds only for the short run.
• C)the trade-off between unemployment and inflation holds in the long run,but not in the short run.
• D)the Phillips curve will be vertical in the long run.

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Definitions:

Social Environment

The immediate physical and social setting in which people live or in which something happens or develops, including the culture that the individual is educated or lives in.

Physiological Forces

Biological or bodily drives and processes that influence behavior and mental states.

Unconditional Positive Regard

A concept in psychology that entails accepting and supporting a person regardless of what they say or do.

Peers

Individuals who are of similar age, status, or interest, often influencing each other's behaviors and attitudes.