Application of the Central Bank Learning Story to the Canadian

Multiple Choice

Application of the Central Bank Learning Story to the Canadian economy in the later part of the 20th century suggests that the Bank of Canada began to understand that increases in expected inflation shift the Phillips curve upward

A) in the early 1960s.
B) in the early 1970s.
C) in the early 1980s.
D) in the early 1990s.
E) even now, the Bank of Canada appears not to have learned this lesson.