On the modern Phillips curve, the initial impact of an increase in the world price of steel is shown by ________
A) an upward movement along the Phillips curve to a higher inflation rate
B) an upward shift of the Phillips curve leading to higher inflation rates for any unemployment rate
C) a downward shift of the Phillips curve leading to lower inflation rates for any unemployment rate
D) a downward movement along the Phillips curve to higher unemployment rates
E) none of the above
B
Economics
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A) textbook publishers B) retailing C) wheat farms in the United States D) fast food restaurants
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