Multiple Choice
How does an increase in the expected rate of inflation shift the Phillips curves?
A) It shifts only the short-run Phillips curve to the right.
B) It shifts only the short-run Phillips curve to the left.
C) It shifts the long-run Phillips curve right and the short-run Phillips curve left.
D) It shifts both the short-run and long-run Phillips curves to the left.
Correct Answer:
Verified
Correct Answer:
Verified
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