The Phillips Curve could accurately guide activist policymakers over the long run. The inflation rate will consistently be 2 percentage points below the unemployment rate. Economic participants would soon understand activist policymakers' strategy and revise their expectations, making discretionary efforts to fine-tune the economy ineffective. The inverse relationship between unemployment and inflation only holds in the long run. In the short run, unemployment and inflation are positively related.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

Answercompetitive advantage; i believe this is correct, plz check first good luck

Answera market responds to a product over time;