Multiple Choice
Suppose the economy had been operating along a given short-run Phillips curve for several years and then experienced a year of stagflation.The year of stagflation would:
A) be represented as a move upward along the short-run Phillips curve.
B) be represented as a move downward along the short-run Phillips curve.
C) be represented as a point above the short-run Phillips curve.
D) be represented as a point below the short-run Phillips curve.
E) correspond to the origin.
Correct Answer:
Verified
Correct Answer:
Verified
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