The Figure Given Below Shows the Phillips Curves of the U.S

question 23

Multiple Choice

The figure given below shows the Phillips curves of the U.S. economy during early 1960s to late 1970s.?Figure 14.2

-Refer to Figure 14.2. Following the movement from point A to point B on Phillips curve III, what would cause the Phillips curve to shift up so that 5 percent unemployment is associated with 10 percent inflation?

• A) An upward movement along the aggregate supply curve
• B) A downward movement along the aggregate supply curve
• C) A downward movement along the aggregate demand curve
• D) An outward shift of the aggregate supply curve
• E) An inward shift of the aggregate supply curve

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Definitions:

Social Motives

Social motives are driving forces behind individuals' behaviors that stem from the need for social interaction, acceptance, and belonging within a group or society.

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The connections, associations, or interactions between individuals or groups.

Inborn Predisposition

Natural tendencies or inclinations present at birth that influence behavior, preferences, or susceptibilities.

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An innate, typically fixed pattern of behavior in animals in response to certain stimuli that is unlearned and often serves survival purposes.