Multiple Choice
The short-run Phillips curve shows the combinations of
A) unemployment and inflation that arise in the short run as aggregate demand shifts the economy along the short-run aggregate supply curve.
B) unemployment and inflation that arise in the short run as short-run aggregate supply shifts the economy along the aggregate demand curve.
C) real GDP and the price level that arise in the short run as short-run aggregate supply shifts the economy along the aggregate demand curve.
D) None of the above is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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