Refer to Figure 17-4. Consider the shift in the short-run Phillips curves shown in the above graph. This shift may be explained by
A) an increase in the expected rate of inflation from 4.0 to 5.5 percent.
B) an increase in the natural rate of unemployment from 5.0 to 6.2 percent.
C) either an increase in the natural rate of unemployment from 5.0 to 6.2 percent or an increase in the expected rate of inflation from 4.0 to 5.5 percent.
D) None of the above is correct.
A
Economics
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A) store of value, medium of exchange, payment specie. B) store of value, unit of account, bank settlement. C) store of value, unit of account, to regulate the economy. D) store of value, unit of account, medium of exchange.
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Which of the following is an input to the production process?
A) a janitor's time B) a cement mixer C) Both A and B D) None of the above.
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