Multiple Choice
Which of the following shifts the long-run Phillips curve left?
A) both an increase in the inflation rate and a decrease in the minimum wage rate
B) an increase in the inflation rate,but not a decrease in the minimum wage rate
C) a decrease in the minimum wage rate,but not an increase in the inflation rate
D) neither a decrease in the minimum wage rate nor an increase in the inflation rate
Correct Answer:
Verified
Correct Answer:
Verified
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