Along a Short- Run Phillips Curve, Suppose the Expected Inflation

question 397

Multiple Choice

Along a short- run Phillips curve, suppose the expected inflation rate is 6 percent. If the inflation rate turns out to be 8 percent instead,

• A) there is a movement downward along the curve.
• B) the difference in the inflation rate does not affect the Phillips curve.
• C) there is a movement upward along the curve.
• D) there is a downward shift of the curve.

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