Multiple Choice
How will an adverse supply shock shift the short-run Phillips curve, and how does inflation change?
A) It will shift the short-run Phillips curve right, and inflation will rise.
B) It will shift the short-run Phillips curve right, and inflation will fall.
C) It will shift the short-run Phillips curve left, and inflation will rise.
D) It will shift the short-run Phillips curve left, and inflation will fall.
Correct Answer:
Verified
Correct Answer:
Verified
Q71: Suppose that the Bank of Canada unexpectedly
Q72: Suppose the Bank of Canada decreased the
Q73: If the Bank of Canada announced a
Q74: Suppose the minimum wage decreased. At any
Q75: What is one determinant of the natural
Q77: In the long run, what effect does
Q78: Ultimately, what causes the short-run reduction in
Q79: What is the effect of an adverse
Q80: In the long run, what will shift
Q81: What would we NOT expect to happen