The shifts of the short-run and long-run Phillips curves in the figure above are the result of
A) an increase in the expected inflation rate.
B) an increase in the natural unemployment rate.
C) a decrease in the natural unemployment rate.
D) an increase in the actual inflation rate.
E) a decrease in the expected inflation rate.
B
Economics
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When money is accepted as payment for a good or service, it is being used as a:
A. medium of exchange. B. store of value. C. unit of account. D. mechanism for transforming current purchases into future purchases.
Economics
Robert must always have sugar in his coffee. For Robert, the cross price elasticity of demand for coffee and sugar is
A. equal to 0. B. negative. C. positive. D. impossible to determine without more information.
Economics