The Cleveland Federal Reserve Bank's Estimate of Expected Inflation Has

Multiple Choice

The Cleveland Federal Reserve Bank's estimate of expected inflation has fallen from 3.5 percent in 2000 to 1.5 percent in 2013. This fall means that

A) the short-run Phillips curve shifted upward.
B) the short-run Phillips curve shifted downward.
C) there was a movement along the short-run Phillips curve.
D) the natural unemployment rate increased.