Suppose the Long-Run Phillips Curve Shifts to the Right

question 64

Multiple Choice

Suppose the long-run Phillips curve shifts to the right. For any given rate of money growth and inflation, how would unemployment and output change?

• A) Unemployment would be higher, and output would be lower.
• B) Unemployment would be higher, and output would be higher.
• C) Unemployment would be lower, and output would be lower.
• D) Unemployment would be lower, and output would be higher.

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Definitions:

Ethical Theory

A system of principles designed to guide decision-making by determining what is morally right and wrong.

Deception

The act of misleading or tricking someone, often involving misrepresentation or withholding of the truth.

Absolute Obligation

A legal binding commitment that must be fulfilled under all circumstances, without excuses or conditions.

Ethical Theory

The branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct.