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Phillips Curve DP2

Authored by Julia Peters

Social Studies

12th Grade

Used 2+ times

Phillips Curve DP2
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30 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

1. What does the Phillips Curve describe in economics?

The relationship between inflation and unemployment
The supply and demand for consumer goods
The impact of government spending on GDP
The theory of comparative advantage

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

2. According to the Phillips Curve, when inflation is low, what is the likely status of unemployment?

High unemployment
Low unemployment
No relationship to unemployment
Uncertain

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

3. In the short run, the Phillips Curve suggests that there is a trade-off between what two economic variables?

Inflation and government spending
Inflation and interest rates
Inflation and unemployment
Unemployment and economic growth

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

4. What is the key idea of the Phillips Curve?

There is an inverse relationship between inflation and unemployment in the short run
There is a positive relationship between inflation and unemployment
There is no relationship between inflation and unemployment
Inflation is always higher than unemployment

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

5. In the long run, according to the Phillips Curve, what happens to the trade-off between inflation and unemployment?

It remains the same
It reverses, and there is no trade-off
It becomes more favorable for policymakers
It becomes more volatile

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

6. What is the term for the level of unemployment at which there is no cyclical unemployment, and all that remains is structural and frictional unemployment?

Natural rate of unemployment
Inflation rate
Full employment
Seasonal unemployment

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

7. When the economy operates at full employment, what is the unemployment rate expected to be?

High
Low
Zero
Unpredictable

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