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Assume That the Frictional Unemployment Rate Is 2% and the Structural

question 3

Essay

Assume that the frictional unemployment rate is 2% and the structural unemployment rate is 4%. Draw the long run Phillips curve that is consistent with this information.


Definitions:

Theoretical Perspective

A particular set of assumptions about the nature of social phenomena that guides research and analysis in social sciences.

Gender

Social and cultural distinctions associated with being male or female, as opposed to biological differences.

Hidden Curriculum

The unspoken or implicit academic, social, and cultural messages that are communicated to students while they are in school.

Normative Constructions

Socially constructed rules and expectations that govern behavior and define what is considered normal or acceptable.

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