The Phillips Curve will shift when
A. the expected inflation rate changes.
B. the overall employment rate remains unchanged.
C. the price level falls.
D. none of these.
Answer: A
Economics
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In 2008 the money wage rate in Ireland increased by 4 percent while the price level increased by 8 percent. As a result, Ireland's
A) short-run aggregate supply curve shifted leftward. B) short-run aggregate supply curve shifted rightward. C) long-run aggregate supply curve shifted rightward. D) short-run and long-run aggregate supply curves shifted rightward.
Economics