The Very Low Inflation That the U

Multiple Choice

The very low inflation that the U.S. experienced in 2009 and 2010

A) appears to have reduced expected inflation, and the short-run Phillips curve shifted downward as a result.
B) appears to have reduced expected inflation, and the short-run Phillips curve shifted upward as a result.
C) does not appear to have reduced expected inflation, and the short-run Phillips curve remained relatively stable as a result.
D) does not appear to have reduced expected inflation, but the short-run Phillips curve shifted dramatically nevertheless.