The Shift to the Right of the Phillips Curve in the 1970s

question 60

Multiple Choice

The shift to the right of the Phillips curve in the 1970s and its leftward shift in the middle to late 1990s was in part caused by

• A) the impact of government-imposed incomes policies.
• B) the fact that the money supply remained constant despite price level changes over these years.
• C) shifts in the aggregate supply curve.
• D) changes in the way we measure inflation and unemployment rates.
• E) variations in the international value of the dollar.

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Definitions:

Binocular Disparity

The difference in the images on the retina of each eye that allows for depth perception and estimation of distances.

Perspective Cue

Visual signals that provide information about the depth, distance, and three-dimensionality of objects in relation to the observer.

Elevation

A positive emotional state that arises when witnessing virtuous acts of remarkable moral goodness, often leading to a desire to emulate such behavior.

Distance

A numerical measurement of how far apart objects or points are.