When a Movement Up Along the Aggregate Supply Curve Occurs

question 101

Multiple Choice

When a movement up along the aggregate supply curve occurs, there is also

• A)no movement along nor a shift in the short-run Phillips curve.
• B)a rightward shift of the short-run Phillips curve.
• C)a movement up along the short-run Phillips curve.
• D)a movement down along the short-run Phillips curve.
• E)a leftward shift of the short-run Phillips curve.

---

Definitions:

Coefficient Of Determination

A measure used in statistical analysis to assess the goodness of fit of a model, represented as the proportion of variance in the dependent variable that is predictable from the independent variable(s).

Pearson Correlation Coefficient

A measure of the linear correlation between two variables X and Y, giving a value between -1 and 1 which indicates the strength and direction of the correlation.

Sum Of Squares

A statistical measure that quantifies the variation within a set of numbers, calculated as the sum of the squared differences from the mean.

Least Squares Estimates

The estimates of the parameters in a regression model obtained by minimizing the sum of squared differences between observed and predicted values.