Multiple Choice
Suppose the long-run Phillips curve shifts to the left. For any given rate of money growth and inflation, how would unemployment and output change?
A) Unemployment would be higher, and output would be lower.
B) Unemployment would be higher, and output would be higher.
C) Unemployment would be lower, and output would be lower.
D) Unemployment would be lower, and output would be higher.
Correct Answer:
Verified
Correct Answer:
Verified
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