Which of the Following Would Shift the Long-Run Phillips Curve

question 16

Multiple Choice

Which of the following would shift the long-run Phillips curve to the right?

• A) An increase in the minimum wage
• B) An increase in expected inflation
• C) An increase in the price of foreign oil
• D) An increase in aggregate demand

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Definitions:

General Ledger

A comprehensive record of all financial transactions over the life of a company.

Direct Labour Time

The actual time workers spend on the production floor directly working on products or services.

Standard Costing System

An accounting method that uses standard costs for costing inventory and measuring efficiency.

Board Metres

A unit of measure used in the lumber industry to quantify the volume of wood.