Question
The Beveridge curve plots this economic indicator against the vacancy rate. For 10 points each:
[10e] Name this indicator for which Bill Phillips found a negative correlation with the inflation rate. The "natural" level of this measure has structural and frictional components.
ANSWER: unemployment rate [accept U or U-3]
[10h] This curve plots the interest rate of a bond against the time remaining to maturity. The inversion of this curve for U.S. Treasury bonds is a key recession indicator.
ANSWER: yield curve
[10m] The aggregate supply curve of this type slopes upward, in contrast to a different, vertical aggregate supply curve. In this condition, some prices are sticky.
ANSWER: short run [accept short term]
<Social Science - Social Science - Economics>
Data
Summary
| Tournament | Edition | Exact Match? | Heard | PPB | Easy % | Medium % | Hard % |
|---|---|---|---|---|---|---|---|
| 2025 PACE NSC | 06/07/2025 | Y | 41 | 12.68 | 78% | 32% | 17% |