Exam 22: The Short Run Trade Off Between Inflation and Unemployment: Shifts in the Phillips Curve the Role of Expectations

If unemployment is above its natural rate,what happens to move the economy to long-run equilibrium?

Which of the following would shift the long-run Phillips curve to the right?

In the long run,if the Fed decreases the growth rate of the money supply,

Figure 35-6 Use the graph below to answer the following questions. -Refer to Figure 35-6.If the economy starts at C and the money supply growth rate decreases,in the short run the economy moves to

In the long run,an increase in the money supply

According to Friedman and Phelps,the unemployment rate

In the long run an increase in the money supply growth rate affects

If a central bank increases the money supply growth rate,then in the short run

In the long run,an increase in the money supply growth rate

Other things the same,if there is an increase in the money supply growth rate that is larger than expected,then in the short run

If expected inflation increases,which of the following shifts right?

Figure 35-7 Use the two graphs in the diagram to answer the following questions. -Refer to Figure 35-7.Starting from C and 3,in the short run,an unexpected decrease in money supply growth moves the economy to

Figure 35-6 Use the graph below to answer the following questions. -Refer to Figure 35-6.Curve 1 is the

By about 1973,U.S.policymakers had learned that

A policy change that changes the natural rate of unemployment changes

According to Friedman and Phelps's analysis of the Phillips curve,

A policy that raised the natural rate of unemployment would shift

The idea that the long-run Phillips curve is

Friedman and Phelps concluded that

Which of the following is vertical?