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

question 19

Multiple Choice

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

• A)an increase in the money supply
• B)an increase in the inflation rate
• C)increases in unemployment compensation
• D)a decrease in the unemployment rate

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Profits calculated by subtracting both explicit and implicit costs from total revenues, representing the additional value created beyond all resource costs.

Accounting Profits

The total revenue of a company minus the explicit costs and depreciation expenses.

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Total costs represent the complete sum of all expenses incurred by a business in the production of goods or services, including both fixed and variable costs.

Variable Cost

Costs that change in proportion to the level of activity or volume of goods produced.