
Quiz on the Phillips Curve
Authored by Jake Goodman
Financial Education
12th Grade

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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec ⢠1 pt
What does the Phillips Curve suggest about the relationship between inflation and unemployment?
There is a fluctuating relationship
There is no relationship
There is an inverse relationship
There is a direct relationship
2.
MULTIPLE CHOICE QUESTION
30 sec ⢠1 pt
During which decades was the Phillips Curve analysis particularly influential?
1940s and 1950s
1960s and 1970s
1980s and 1990s
1950s and 1960s
3.
MULTIPLE CHOICE QUESTION
30 sec ⢠1 pt
What economic phenomenon challenged the validity of the Phillips Curve in the 1970s?
Hyperinflation
Stagflation
Deflation
Recession
4.
MULTIPLE CHOICE QUESTION
30 sec ⢠1 pt
Who originally analyzed the relationship between money wage growth and unemployment?
Paul Samuelson
A.W. Phillips
Milton Friedman
John Maynard Keynes
5.
MULTIPLE CHOICE QUESTION
30 sec ⢠1 pt
What do monetarists argue about the long-term relationship between unemployment and inflation?
There is a permanent trade-off
There is a temporary trade-off
There is a direct correlation
There is no trade-off
6.
MULTIPLE CHOICE QUESTION
30 sec ⢠1 pt
What happens to inflationary pressures as the economy approaches full capacity?
Inflation remains constant
Inflation becomes unpredictable
Inflation decreases
Inflation increases
7.
MULTIPLE CHOICE QUESTION
30 sec ⢠1 pt
What did the Bank of England do during 2009-2013 regarding inflation?
Increased inflation to 5%
Tolerated inflation above 2%
Eliminated inflation completely
Reduced inflation to below 1%
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