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The Inflation and Unemployment Data for the 1970s Suggest That

Question 118

Multiple Choice

The inflation and unemployment data for the 1970s suggest that the aggregate-supply shocks of that period caused the:


A) Relationship between the unemployment rate and the rate of inflation to remain stable, predictable, and exhibited a clear tradeoff
B) Relationship between the unemployment rate and the rate of inflation to be similar to that found during the 1960 and 1969 period
C) Phillips Curve to shift to the right
D) Phillips Curve to shift to the left

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