A Rightward Shift of the Traditional Phillips Curve Would Suggest

question 164

Multiple Choice

A rightward shift of the traditional Phillips Curve would suggest that

• A) the productivity of labor increased.
• B) the rate of inflation is now higher at each rate of unemployment.
• C) cost-push inflation decreased.
• D) the rate of inflation is now lower at each rate of unemployment.

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Definitions:

Contradictory

Describing propositions, beliefs, or statements that are mutually opposed or inconsistent, such that if one is true, the other must be false.

Antecedent

The conditional part of a hypothetical proposition, typically preceding and implying the consequence.

Inconsistent

Lacking compatibility or uniformity, leading to a lack of coherence or agreement.

Truth Tables

A tool in logic and mathematics used to determine whether a proposition is true or false under all possible conditions.