If the Phillips Curve Is ________ in the Long Run

question 71

Multiple Choice

If the Phillips curve is ________ in the long run, there is no trade-off between inflation and unemployment in the long run.

• A) negatively sloped
• B) concave
• C) convex
• D) vertical

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Definitions:

Preconditions

Necessary conditions that must exist or occur before a certain event can happen.

Rebellion

The act of resisting authority, control, or tradition, especially by armed forces or large groups of people.

Positivist Theories

A set of theories in sociology and criminology that employ empirical evidence to understand and explain social phenomena.

Deviance

Behaviors or actions that violate societal norms or expectations, leading to social disapproval.