"The short-run Phillips curve shifts leftward when the inflation rate rises." Is the previous statement correct or incorrect?

What does the expansion path represent?

What will be an ideal response?

There are three prerequisites to creating money. They are

a. currency, homogeneity, volatility b. fractional reserve system operating with financial intermediaries, people willing to make demand deposits, borrowers prepared to take out loans c. Federal Reserve Notes, willing creators of demand deposits, investment managers d. banks loaning new deposits to other banks, borrowers who create M1, a need for a store of value e. excess reserves, reserve requirements, financial intermediaries