As Inflationary Expectations Rise, the _____ Phillips Curve Shifts to the _____

question 260

Multiple Choice

As inflationary expectations rise, the _____ Phillips curve shifts to the _____.

• A) long-run; right
• B) short-run; right
• C) long-run; left
• D) short-run; left

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Definitions:

Fixed Interval

In operant conditioning, a schedule of reinforcement where the first response after a specified amount of time has elapsed is rewarded.

Continuous Reinforcement

A learning process in which a behavior is reinforced each time it occurs, leading to faster acquisition of the behavior.

Fixed Interval

A schedule of reinforcement where the first response is rewarded only after a specified amount of time has elapsed, used in the study of behavior.

Variable Ratio

A schedule of reinforcement where a response is reinforced after an unpredictable number of responses, commonly used in gambling.