British economist A. H. Phillips published his famous paper on the relationship between inflation and unemployment during ______.

If a price ceiling is imposed,

a. the market supply curve shifts to the right b. the market demand curve shifts to the left c. an excess demand for the good results d. the government would be required to buy the excess supply of the good e. the equilibrium price falls below the price level the government wishes to achieve

An appropriate fiscal policy for severe demand-pull inflation is:

A. an increase in government spending. B. depreciation of the dollar. C. a reduction in interest rates. D. a tax rate increase.