Author Question: If inflationary expectations are stable and there is no current inflation, the short-run Phillips ... (Read 44 times)

jwb375 · **on:** Jun 30, 2018

If inflationary expectations are stable and there is no current inflation, the short-run Phillips curve will intersect the long-run Phillips curve at:
a. a 0 percent unemployment rate.
b. a 2 percent unemployment rate.
c. a 4 percent unemployment rate.
d. the natural rate of unemployment.

Question 2

Globalization can be defined as:
a. the attitude or policy of placing the interests of the entire world above those of individual nations.
b. viewing the entire world as a proper sphere for one nation to project political influence.
c. a period in history that has witnessed a dramatic change in world political thought and the balance of power.
d. an increased cross-border flow of trade in goods, services, and financial assets, along with an increased international mobility of technology, information, and individuals.
e. a social movement that supports global cooperation and interaction, but which opposes the negative effects of economic development across nations.