Multiple Choice
A decrease in the price of foreign oil
A) shifts the short-run Phillips curve downward, and makes the unemployment inflation trade-off less favourable.
B) shifts the short-run Phillips curve upward, and makes the unemployment inflation trade-off less favourable.
C) shifts the short-run Phillips curve upward, and makes the unemployment inflation trade-off more favourable.
D) shifts the short-run Phillips curve downward, and makes the unemployment inflation trade-off more favourable.
Correct Answer:
Verified
Correct Answer:
Verified
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