Multiple Choice
How will an increase in the expected inflation rate affect the Phillips curve?
A) The short-run Phillips curve will shift upward and to the right.
B) The short-run Phillips curve will shift downward and to the left.
C) The short-run Phillips curve will NOT shift unless the unemployment rate changes.
D) The short-run Phillips curve will become flatter.
Correct Answer:
Verified
Correct Answer:
Verified
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