Multiple Choice
Refer to the diagram. The move of the economy from c to e on short-run Phillips Curve PC2 would be explained by an
A) increase in aggregate demand in the economy.
B) increase in aggregate supply in the economy.
C) actual rate of inflation that is less than the expected rate.
D) actual rate of inflation that exceeds the expected rate.
Correct Answer:
Verified
Correct Answer:
Verified
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