Multiple Choice
If the natural rate of unemployment falls,
A) both the short-run and long-run Phillips curves shift left.
B) the short-run Phillips curve shifts left,the long-run Phillips curve is unchanged.
C) the short-run Phillips curve is unchanged,the long-run Phillips curve shifts right.
D) the short-run and the long-run Phillips curves shift right.
Correct Answer:
Verified
Correct Answer:
Verified
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