In the Conventional View, Outward Shifts of the Phillips Curve

question 39

Multiple Choice

In the conventional view, outward shifts of the Phillips Curve in the 1970s and early 1980s were caused by:

• A)adverse shocks to aggregate supply.
• B)adverse shocks to aggregate demand.
• C)an increase in the misery index.
• D)the Vietnam War.

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Definitions:

Retrieval Failure

The inability to recall information that is stored in memory, suggesting that the memory is not lost but cannot be accessed.

Implicit Memory

A type of long-term memory that allows individuals to perform tasks without conscious awareness of these previous experiences.

Déjà Vu

The eerie and often unsettling feeling of having already experienced a current situation or event, despite it being seemingly new.

Misinformation Effect

The effect where an individual's memory of events becomes less precise due to information received after the event.