If the Long-Run Phillips Curve Shifts to the Right,then for Any

question 137

Multiple Choice

If the long-run Phillips curve shifts to the right,then for any given rate of money growth and inflation the economy has

• A)higher unemployment and lower output.
• B)higher unemployment and higher output.
• C)lower unemployment and lower output.
• D)lower unemployment and higher output.

---

Definitions:

Collateral

Assets pledged by a borrower to secure a loan or guarantee repayment, which can be seized by the lender if the borrower fails to pay.

Security Instrument

A legal document that creates a lien on a property, securing the repayment of a loan or performance of an obligation.

Re-filed

The act of submitting or filing a document or case again after it has been dismissed or needs correction.

Article 9

A section of the Uniform Commercial Code governing secured transactions, where a creditor has a security interest in the personal property of a debtor as collateral for a debt.