According to the Short-Run Phillips Curve,if Unemployment Is 2

question 171

Multiple Choice

According to the short-run Phillips curve,if unemployment is 2.4% and inflation is 3.7%,a decrease in the inflation rate might result in which of the following?

• A)an increase in the unemployment rate to 3.4%
• B)a decrease in the unemployment rate to 3.0%
• C)a decrease in the demand for labor in the economy
• D)Both A and C are correct answers.

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Definitions:

Intractable Ruling Classes

Powerful societal groups that are resistant to change and maintain their position through control of resources and institutions.

Disadvantaged

Individuals or groups lacking in advantage, opportunity, or resources, often due to socio-economic conditions.

Political Resources

Assets, connections, or tools available to individuals, groups, or states to influence political outcomes or decisions.

Non-Unionized

Denotes workplaces or employees that are not members of a labor union, and therefore typically do not have collective bargaining rights for wages and working conditions.