According to the Phillips Curve, If Current Output Is Above

question 135

Multiple Choice

According to the Phillips curve, if current output is above potential output:

• A) inflation falls.
• B) inflation rises.
• C) unemployment falls.
• D) inflation is constant.
• E) tax rates rise.

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Definitions:

Prove

To establish the truth or validity of something through evidence or argument.

Parol Evidence

Oral or verbal evidence that is not included in the written contract, often discussed in the context of disputes about what the parties agreed upon.

Written Contract

A legally binding agreement that has been formulated in writing and signed by the parties involved.

Parol Evidence

A rule in contract law that prevents parties from presenting extrinsic evidence to alter or add to the terms of a written agreement.