Multiple Choice
An increase in the expected inflation rate shifts
A) both the short-run and the long-run Phillips curves upward.
B) the short-run but not the long-run Phillips curve upward.
C) the long-run but not the short-run Phillips curve upward.
D) neither the short-run nor the long-run Phillips curve.
Correct Answer:
Verified
Correct Answer:
Verified
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Q24: An increase in the expected inflation rate
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