The short-run Phillips curve shifts from SRPC0 to SRPC1 as a result of
A) a fall in the expected inflation rate.
B) an increase in the natural unemployment rate.
C) a rise in the expected inflation rate.
D) a decrease in the natural unemployment rate.
E) None of the above answers is correct.
A
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Refer to the Article Summary. The article discusses income inequality, and for some people this means a more equitable distribution of income is needed in the economy. Would an equitable distribution of income necessarily be the most efficient distribution of income?
A) No, it is impossible to have an economically efficient distribution which is also an equitable distribution. B) No, an economically efficient distribution of income would not necessarily be equitable. C) Yes, in order for the distribution to be equitable, it must also be efficient. D) Yes, equitable and efficient are two different words which have the same definition.
Both ________ and ________ are monetary liabilities of the Fed
A) securities; loans to financial institutions B) currency in circulation; reserves C) securities; reserves D) currency in circulation; loans to financial institutions