In the short run, the downward slope to the Phillips curve is mainly due to:
a. Differences between expected inflation and actual inflation.
b. Differences between actual and expected real GDP growth rates.
c. Differences between actual and expected sun spots.
d. Differences between actual and expected changes in productivity.
e. Differences between actual and expected nominal exchange rate changes.
.A
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A) plus; equals B) equals; plus C) equals; minus D) minus; equals
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A) costs; benefits; concentrated; widely dispersed. B) benefits; costs; concentrated; widely dispersed. C) costs; benefits; widely dispersed; concentrated. D) benefits; costs; widely dispersed; concentrated.