Multiple Choice
An increase in aggregate demand tends to cause a ____ a short run Phillips curve at first, then cause a ____ in the short run Phillips curve as people adjust their expectations.
A) Movement up along; upward shift.
B) Movement up along; downward shift.
C) Movement down along; upward shift.
D) Movement down along; downward shift.
Correct Answer:
Verified
Correct Answer:
Verified
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