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 44 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
Gracias!

JaynaD87

  • Member
  • Posts: 368
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Homeschooling has come a long way. These children are performing in a musical at the annual ... Homeschooling has come a long way. These children are performing in a musical at the annual ...
A cutaway of a typical water pump showing the long bearing assembly and the seal. The weep hole is ... A cutaway of a typical water pump showing the long bearing assembly and the seal. The weep hole is ...
A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ... A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ...
Typical bacterial population growth curve showing the initial lag phase Typical bacterial population growth curve showing the initial lag phase
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
The age-of-onset curve for Huntington disease (HD) The age-of-onset curve for Huntington disease (HD)
Video: Fermentation - When Oxygen Is Absent, Pyruvate to Lactate & Pyruvate to Ethanol

For a complete list of videos, visit our video library