If the long-run Phillips curve shifts to the right, then for any given rate of money growth and inflation the economy has
a. higher unemployment and lower output.
b. higher unemployment and higher output.
c. lower unemployment and lower output.
d. lower unemployment and higher output.
a
Economics
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Describe the three broad categories of the U.S. budget
What will be an ideal response?
Economics
The Internet has made it possible to compare lots of prices without incurring a lot of cost. If Internet access is unequally distributed throughout the population, one would expect
A) consumers with Internet access to pay a higher price. B) consumers without Internet access to pay a lower price. C) price discrimination against consumers without Internet access. D) firms to charge the same price to all consumers.
Economics