Multiple Choice
If inflation expectations rise, the short-run Phillips curve shifts
A) right, so that at any inflation rate output is higher in the short run than before.
B) left, so that at any inflation rate output is higher in the short run than before.
C) right, so that at any inflation rate output is lower in the short run than before.
D) left, so that at any inflation rate output is lower in the short run than before.
Correct Answer:
Verified
Correct Answer:
Verified
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