If the Long-Run Phillips Curve Shifts to the Right,then for Any

question 137

Multiple Choice

If the long-run Phillips curve shifts to the right,then for any given rate of money growth and inflation the economy has

• A)higher unemployment and lower output.
• B)higher unemployment and higher output.
• C)lower unemployment and lower output.
• D)lower unemployment and higher output.

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Definitions:

Deplorable Conditions

Extremely poor and unacceptable working or living conditions that can be hazardous to health and well-being.

National War Labor Board

A US government agency established during World War II to arbitrate labor disputes, manage wage controls, and ensure the production of goods for the war effort.

Tripartite Board

A governing or advisory board composed of representatives from three distinct groups, often referring to government, employers, and labor unions.

Labor Disputes

Conflicts between employees and employers regarding working conditions, wages, contracts, and other employment issues.