Multiple Choice
During the mid and last part of the 1990's both inflation and unemployment were low.In general this could have been the result of
A) adverse supply shocks that shifted the short-run Phillips curve left.
B) adverse supply shocks that shifted the short-run Phillips curve right.
C) favorable supply shocks that shifted the short-run Phillips curve left.
D) favorable supply shocks that shifted the short-run Phillips curve right.
Correct Answer:
Verified
Correct Answer:
Verified
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