During the Mid and Last Part of the 1990's Both

question 79

Multiple Choice

During the mid and last part of the 1990's both inflation and unemployment were low.In general this could have been the result of

• A)adverse supply shocks that shifted the short-run Phillips curve left.
• B)adverse supply shocks that shifted the short-run Phillips curve right.
• C)favorable supply shocks that shifted the short-run Phillips curve left.
• D)favorable supply shocks that shifted the short-run Phillips curve right.

Understand the significance of job titles and descriptions in the application of labor laws.

Recognize the legal allowances for employers to adjust pay based on seniority, merit, or to retain employees.

Understand the basic provisions and requirements of the Employee Retirement Income Security Act (ERISA).

Identify different types of retirement and welfare plans covered under ERISA.

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Definitions:

Permanent/Temporary

Refers to classifications of accounts where permanent accounts (assets, liabilities, and equity) are carried over across accounting periods, and temporary accounts (revenues, expenses, and dividends) are reset to zero through the closing process.

Minority Group

People who may be treated differently or unequally because of their physical or cultural characteristics, such as gender, sexual orientation, religion, or skin color.

Dominant Group

Physically or culturally distinctive group that has the most economic and political power, the greatest privileges, and the highest social status.

Social Status

Social status is the perceived importance, respect, and prestige an individual or group is accorded by others within a society, often based on wealth, occupation, education, or family heritage.