Multiple Choice
A movement along the SAS curve that brings a lower price level and a decrease in real GDP is equivalent to a
A) movement along a short- run Phillips curve that brings an increase in the inflation rate and an increase in the unemployment rate.
B) shift in the short- run Phillips curve that brings a decrease in the inflation rate and an increase in the unemployment rate.
C) shift in the short- run Phillips curve that brings an increase in the inflation rate and an increase in the unemployment rate.
D) movement along a short- run Phillips curve that brings a decrease in the inflation rate and an increase in the unemployment rate.
Correct Answer:
Verified
Correct Answer:
Verified
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