A Story from Www

Multiple Choice

A story from www.ft.com 1/31/2005) describing Irelandʹs transformation to a prosperous economy noted that ʺIrelandʹs story is unique: a small, English-speaking, non-industrialized country on the edge of Europe was able to secure structural funds from the EU, cut taxes, deregulate faster than its neighbours and attract lots of foreign companies in the process.ʺ
If the natural rate of unemployment in Ireland decreased as a result of these policies, then _________would shift _________.

A) the long-run and short-run Phillips curves; leftward
B) the long-run and short-run Phillips curves; rightward
C) only the long-run Phillips curve; leftward
D) only the short-run Phillips curve; rightward