During the 1970s When Both the Unemployment Rate and Inflation

question 281

Multiple Choice

During the 1970s when both the unemployment rate and inflation rate rose, it is reasonable to conclude that

• A) both the short-run and long-run Phillips curves shifted rightward.
• B) only the short-run Phillips curve shifted.
• C) only the long-run Phillips curve shifted.
• D) both the short-run and long-run Phillips curves shifted leftward.

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Definitions:

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A prima facie case is the establishment of a legally required rebuttable presumption, demonstrating enough evidence to support a particular proposition unless disproved by further evidence.

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