According to the modern expectational Phillips curve, unemployment will temporarily rise above the natural rate of unemployment when

a. any inflation is present.
b. inflation turns out to be lower than what people expected.
c. inflation turns out to be higher than what people expected.
d. inflation turns out to be equal to what people expected.

B

Economics

You might also like to view...

Over 65% of those age 85 or older are female

Indicate whether the statement is true or false

View
Economics

A change in autonomous spending leads to an even greater change in total spending through the multiplier process

Indicate whether the statement is true or false

View
Economics