Multiple Choice
For a given expected inflation rate, the higher the unemployment rate, the lower is the actual inflation rate.This relationship is the _______ Phillips curve.When the expected inflation rate changes, this is shown as a movement along the _______ Phillips curve.
A) long- run; natural
B) short- run; short- run
C) short- run; long- run
D) long- run; long- run
E) natural; short- run
Correct Answer:

Verified
Correct Answer:
Verified
Q4: In real business cycle theory, a decrease
Q5: If there is a fully anticipated increase
Q6: If the natural unemployment rate increases, the
Q7: A forecast that is based on all
Q8: According to _, the business cycle is
Q10: Along the short- run Phillips curve, if
Q11: Along the short- run Phillips curve, everything
Q12: Suppose the economy is in long- run
Q13: "Intertemporal substitution" in real business cycle theory
Q14: The factor leading to business cycles in