Refer to the Following Figure When Answering

Multiple Choice

Refer to the following figure when answering
Figure 9.4: U.S. Inflation 1990-2012
(Source: Bureau of Labor Statistics)
-Consider Figure 9.4, which shows the annual inflation rate. According to the Phillips curve, the period from about 2003 to 2005 was a period of:

A) recession
B) expansion
C) stagnation
D) None of these answers are correct.
E) Not enough information is given.