Multiple Choice
The shift outward in the Phillips curve in the 1970s was caused by the
A) oil supply shocks of the mid-1970s and the rise in inflationary expectations.
B) fall in the unemployment rate.
C) fall in the inflation rate.
D) rise in the trade deficit.
Correct Answer:
Verified
Correct Answer:
Verified
Q206: Which action was NOT taken in response
Q207: The risk of highly leveraged investments is
Q208: If the rational expectations theory is correct,
Q209: According to the equation for the Phillips
Q210: The long-run Phillips curve shows<br>A) a tradeoff
Q212: According to the equation for the Phillips
Q213: Which of these is NOT a cost
Q214: (Figure: Determining Long-Run and Short-Run Economic Shifts)
Q215: In effect, the Phillips curve framework implies
Q216: An increase in worker productivity would cause