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

According to the Phillips curve,unemployment and inflation are negatively related in

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 increases,then in the short run the economy moves to

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

By raising aggregate demand more than anticipated,policymakers

One way to express the classical idea of monetary neutrality is to draw

A movement to the left along a given short-run Phillips curve could be caused by

Friedman argued that the Fed could use monetary policy to peg

Data for the United States traced out an almost perfect Phillips curve for much of the

According to Friedman and Phelps,the unemployment rate is above the natural rate when actual inflation

France has a higher natural rate of unemployment than the United States.This suggests that

If the government reduced the minimum wage and pursued expansionary monetary policy,then in the long run

Friedman argued that the Fed could use monetary policy to peg

If the natural rate of unemployment falls,

A movement to the right along a given short-run Phillips curve could be caused by

If the Federal Reserve increases the growth rate of the money supply,in the long run

If inflation is less than expected,then the unemployment rate is

If the long-run Phillips curve shifts to the right,then for any given rate of money growth and inflation the economy has

In the long run,a decrease in the money supply growth rate

If efficiency wages became more common,

If inflation expectations rise,the short-run Phillips curve shifts