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If Changes in Inflation Are Higher Than Expected

Question 103

Multiple Choice

If changes in inflation are higher than expected,


A) the short-run Phillips curve will be positively sloped, but not vertical.
B) the short-run Phillips curve will be negatively sloped.
C) the short-run Phillips curve will be vertical.
D) the long-run Phillips curve will be negatively sloped.
E) the short-run Phillips curve will shift to the left.

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