

Exploring the Phillips Curve Dynamics
Interactive Video
•
Social Studies
•
9th - 12th Grade
•
Practice Problem
•
Hard
Lucas Foster
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the short-run Phillips curve illustrate about the relationship between inflation and unemployment?
Direct relationship: as inflation increases, unemployment increases
Variable relationship: depends on other economic factors
Inverse relationship: as inflation increases, unemployment decreases
No relationship: inflation and unemployment are independent
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the long run, how does the Phillips curve describe the relationship between inflation and unemployment?
Direct relationship
Inverse relationship
No relationship
Cyclical relationship
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to the short-run Phillips curve when there is an increase in consumer spending?
Shifts to the left
Shifts to the right
Becomes flatter
No change
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What economic condition is depicted when the aggregate demand falls and the short-run Phillips curve shows less inflation and more unemployment?
Inflationary gap
Hyperinflation
Recessionary gap
Stagflation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the video, what is the ultimate outcome in the long run regardless of short-term economic fluctuations?
High unemployment
Full employment
Economic recession
High inflation
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the vertical long-run Phillips curve indicate about the economy's adjustment over time?
It results in permanent high unemployment
It does not adjust to economic changes
It adjusts to achieve full employment
It leads to increasing inflation
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the effect of a decrease in exports on the short-run Phillips curve?
Becomes steeper
No change
Shifts to the right
Shifts to the left
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