Multiple Choice
Scenario 35-1
Suppose that in the first half of June 2022, the effects of a housing and financial crisis and an increase in world prices of oil and foodstuffs were affecting the economy.
-Refer to Scenario 35-1. The short-run effects of rising world commodity prices are shown by
A) moving to the right along the short-run Phillips curve.
B) moving to the left along the short-run Phillips curve.
C) shifting the short-run Phillips curve right.
D) shifting the short-run Phillips curve left.
Correct Answer:
Verified
Correct Answer:
Verified
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