Multiple Choice
In the short run, if the economy is in the Phillips phase of the inflation-unemployment cycle, An increase in aggregate demand will generate
A) an increase in the price level and an increase in the unemployment rate.
B) an increase in the price level and a decrease in the unemployment rate.
C) an increase in the price level and no change in the unemployment rate.
D) a decrease in the price level and an increase in the unemployment rate.
Correct Answer:
Verified
Correct Answer:
Verified
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