The Inflation and Unemployment Data for the 1970s Suggest That

Multiple Choice

The inflation and unemployment data for the 1970s suggest that the aggregate-supply shocks of that period caused the

A) relationship between the unemployment rate and the rate of inflation to remain stable and predictable and to exhibit a clear trade-off.
B) relationship between the unemployment rate and the rate of inflation to be similar to that found during the 1960s.
C) Phillips Curve to shift to the right.
D) Phillips Curve to shift to the left.