This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The long-run Phillips curve is downward sloping. Is the previous statement correct or incorrect? ... (Read 41 times)

Lisaclaire

  • Hero Member
  • *****
  • Posts: 569
on: Jun 29, 2018
The long-run Phillips curve is downward sloping. Is the previous statement correct or incorrect?
 
  What will be an ideal response?

Question 2

Explain the differences in people who are classified as unemployed, underemployed, and discouraged workers. Are these people included in the labor force?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

EAN94

  • Sr. Member
  • ****
  • Posts: 307
Reply #1 on: Jun 29, 2018
Answer to Question 1

The statement is incorrect because the long-run Phillips curve is vertical. The short-run Phillips curve is downward sloping.

Answer to Question 2

People who are classified as unemployed do not have a job but are currently available to work and are actively looking for a job. These people are included in the labor force.
People who are classified as underemployed have a job for which they are overqualified. Since these people are working, they are a part of the labor force.
People who are classified as discouraged workers have given up actively looking for work after an extended period of unemployment and are no longer included in the labor force.


Lisaclaire

  • Member
  • Posts: 569
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

robbielu01

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Uncover the back down to the waist. Stand at the head to apply lubricant to the back using long ... Uncover the back down to the waist. Stand at the head to apply lubricant to the back using long ...
Three Pieces of the Long-Term Weight-Loss Puzzle Diet Three Pieces of the Long-Term Weight-Loss Puzzle Diet
How long does exercise affect blood sugar? How long does exercise affect blood sugar?
IQ scores form what mathematicians call a normal distribution "bell curve" IQ scores form what mathematicians call a normal distribution "bell curve"
Typical bacterial population growth curve showing the initial lag phase Typical bacterial population growth curve showing the initial lag phase
Type II curve. Mortality does not vary with age. Data for five-lined skink (Eumeces fasciatus). Type II curve. Mortality does not vary with age. Data for five-lined skink (Eumeces fasciatus).
Video: Muscular System Animation

For a complete list of videos, visit our video library