The Phillips Curve for the 1970s,compared to That for the 1950s

question 11

Multiple Choice

The Phillips curve for the 1970s,compared to that for the 1950s and 1960s

• A) revealed a lower (3 percent) natural rate of unemployment.
• B) was shifted downward to the left and appeared more nearly horizontal.
• C) was a more predictable phenomenon and guide to policy formation.
• D) resulted from a rightward shift in aggregate supply.
• E) indicated the presence of strong inflationary expectations.

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