Rightward and Upward Shifts of the Phillips Curve in the 1970s

question 83

Multiple Choice

Rightward and upward shifts of the Phillips Curve in the 1970s and early 1980s were caused by

• A) adverse shocks to aggregate supply.
• B) adverse shocks to aggregate demand.
• C) an increase in the misery index.
• D) the Vietnam War.

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Definitions:

Meat Powder

A product derived from dehydrated and pulverized meat, used in various culinary or laboratory experiments.

Bell

A device that produces sound through the vibration of a metal component, often used for signaling or alert purposes.

Conditioned Stimulus

A previously neutral stimulus that, after becoming associated with an unconditioned stimulus, eventually triggers a conditioned response.

Unconditioned Stimulus

In classical conditioning, a stimulus that naturally and automatically triggers a response without any prior learning.