What Will Time Inconsistency Cause

Multiple Choice

What will time inconsistency cause?

A) It will cause the short-run Phillips curve to be higher than it otherwise would.
B) It will cause the short-run Phillips curve to be lower than it otherwise would.
C) It will cause the long-run Phillips curve to be farther to the right than it otherwise would.
D) It will cause the long-run Phillips curve to be farther to the left than it otherwise would.