The Long-Run Phillips Curve Would Shift to the Left If

question 4

Multiple Choice

The long-run Phillips curve would shift to the left if

• A)the money supply growth rate increased or labor markets become more flexible.
• B)the money supply growth rate increased but not if labor markets become more flexible.
• C)labor markets become more flexible but not if the money supply growth rate increased.
• D)None of the above is correct.

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Definitions:

Locke's Natural Rights

The philosophical concept, proposed by John Locke, that individuals inherently possess rights to life, liberty, and property, which governments must protect.

Pursuit of Happiness

A fundamental right mentioned in the Declaration of Independence, representing the freedom to seek personal joy and well-being in a way that is self-determined.

American Morale

The spirit, attitude, and confidence of the American people or military forces, often discussed in the context of historical events or conflicts.

Trenton

The capital city of New Jersey, United States, known historically for its crucial role in the American Revolutionary War.