Which of the following would shift the short-run Phillips curve to the right?
a. an negative supply shock
b. an increase in inflationary expectations
c. a decrease in inflationary expectations
d. either (a) or (b)
d
You might also like to view...
The term "fiduciary" comes from the Latin fiducia, which means
A) value. B) gold. C) money. D) trust or confidence.
The MU/P equalization principle means consumers will exhaust their expenditure budget so that, in the end, the MU/P ratio is:
a. zero for each good. b. higher for goods the consumer wants the most. c. maximized for the goods the consumer wants the most. d. higher than TU/P. e. the same for each good.
A tax burden falls more heavily on the side of the market that is less elastic
a. True b. False Indicate whether the statement is true or false
Since World War II, the business cycle has been characterized by
A. Alternating periods of expansion and contraction. B. Shorter periods of growth. C. Increasingly longer recessions. D. Steady, continued growth.