If the long-run Phillips curve shifts to the left, 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.
d
Economics
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During the expansion phase of the business cycle,
A) employment decreases. B) income decreases. C) unemployment increases. D) production increases.
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The estimated price-cost margin of 11.9 percent in the market for broiler chickens in 1992 suggested that there was a high degree of competition in that industry
Indicate whether the statement is true or false
Economics