Author Question: A discouraged worker is defined as A) someone who is working at a job he dislikes. B) someone ... (Read 56 times)

dakota nelson · **on:** Jun 29, 2018

A discouraged worker is defined as

A) someone who is working at a job he dislikes.
B) someone who is overqualified for the job she currently holds.
C) someone who would like to work full time but is only working part time.
D) someone who has given up actively looking for a job after an extended period of unemployment.

Question 2

Define the short-run Phillips curve.

What will be an ideal response?

huda · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

D

Answer to Question 2

The short-run Phillips curve shows the relationship between the inflation rate and the unemployment rate when the natural unemployment rate and the expected inflation rate do not change. The short-run Phillips curve is downward sloping, indicating that there is a tradeoff between inflation and unemployment: inflation can be lowered only at the cost of higher unemployment and unemployment can be lowered only at the cost of higher inflation.