If the inflation rate is decreasing while unemployment is increasing:
a. the short-run Phillips curve must have shifted right
b. the short-run Phillips curve must have shifted left.
c. it must have involved a movement along the short-run Phillips curve
d. it would be inconsistent with any possible Phillips curve scenario.
c
Economics
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Refer to Figure 3-1. A decrease in the price of the product would be represented by a movement from
A) A to B. B) B to A. C) D1 to D2. D) D2 to D1.
Economics
A demand curve is a graphical representation of
A) consumer tastes. B) national income. C) the demand schedule. D) relative prices.
Economics