In the context of the Phillips Curve, the long-run Phillips Curve is: MCQ with Answer and Explanation

In the context of the Phillips Curve, the long-run Phillips Curve is:
A. Upward sloping
B. Horizontal
C. Downward sloping
D. Vertical at the natural rate of unemployment
Answer: Option D
Solution (By JKSSB Mock Tests)
In the long run, the Phillips Curve is vertical at the natural rate of unemployment, indicating no permanent trade-off between inflation and unemployment.

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Practice More Economy Set 1 Questions

Question #1
The 'disinvestment target' in the Union Budget is classified as:
A. capital receipt
B. capital expenditure
C. revenue expenditure
D. revenue receipt

Correct Answer: Option A


Explanation:
Disinvestment proceeds are capital receipts.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'Comptroller and Auditor General of India' is appointed under which article?
A. Article 324
B. Article 148
C. Article 150
D. Article 280

Correct Answer: Option B


Explanation:
The CAG is appointed under Article 148.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'Asian Infrastructure Investment Bank' headquarters is in:
A. Manila
B. Singapore
C. Tokyo
D. Beijing

Correct Answer: Option D


Explanation:
AIIB headquarters is in Beijing.

This question belongs to: Economy GK Economy Set 1