Multiple Choice
How will a favourable supply shock shift the short-run Phillips curve, and how does unemployment change?
A) It will shift the short-run Phillips curve right, and unemployment will rise.
B) It will shift the short-run Phillips curve right, and unemployment will fall.
C) It will shift the short-run Phillips curve left, and unemployment will rise.
D) It will shift the short-run Phillips curve left, and unemployment will fall.
Correct Answer:
Verified
Correct Answer:
Verified
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