If the long-run Phillips curve shifts to the right, then for any given rate of money growth and inflation the economy has

a. higher unemployment and lower output.
b. higher unemployment and higher output.
c. lower unemployment and lower output.
d. lower unemployment and higher output.


a

Economics

You might also like to view...

Consumers make all economic decisions in a mixed economy

Indicate whether the statement is true or false

Economics

Suppose you withdraw $500 from your checking account deposit and bury it in a jar in your back yard. If the required reserve ratio is 10 percent, checking account deposits in the banking system as a whole could drop up to a maximum of

A) $0. B) $50. C) $500. D) $5,000.

Economics

Use the LR curve to show what happens to output, the real interest rate, and the price level in the short run and in the long run if the government provides a tax credit to people who buy a new home, which leads to an increase in new housing

investment.

Economics

Entrepreneurs, if successful, earn

a. rent b. profit c. wages d. salary e. interest

Economics