In the United States during the late 1990s, the unemployment rate fell from previous years and the inflation rate was lower than in previous years. This set of events is best described by saying that the
A) economy moved to a lower point on its short-run Phillips curve but the short-run Phillips curve did not shift.
B) economy moved to a higher point on its short-run Phillips curve but the short-run Phillips curve did not shift.
C) long-run Phillips curve shifted rightward.
D) short-run Phillips curve shifted downward.
E) short-run Phillips curve shifted upward.
D
Economics
You might also like to view...
An independent relationship between two variables is shown in a graph by
A) an upward-sloping line. B) a horizontal or a vertical line. C) a downward-sloping line. D) a steeply sloped line. E) any straight line curve.
Economics
Positive incentives do not: a. increase benefits
b. result in an increased level of the related activity. c. reduce costs. d. discourage consumption.
Economics