An Alternative Way of Stating the Content of the Expectations-Augmented

question 28

Multiple Choice

An alternative way of stating the content of the expectations-augmented Phillips curve is to assert that

• A) the difference between actual and expected inflation should be positively correlated with the percentage) difference between actual and potential GDP.
• B) the difference between actual and expected inflation should be negatively correlated with the difference between actual and potential GDP.
• C) the difference between wage and price inflation should be positively correlated with the difference between actual and potential GDP.
• D) the difference between wage and price inflation should be zero regardless of the difference between actual and potential GDP.
• E) none of the above.

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Definitions:

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