Which of the Following Best Explains Economic Theory Behind the Phillips

question 6

Multiple Choice

Which of the following best explains economic theory behind the Phillips curve?

• A)If inflation rate is lower than expected inflation rate,real money balance will increase leading to a lower interest rate and a higher aggregate demand and output.
• B)If inflation rate is lower than expected inflation rate,real money balance will decrease leading to a higher interest rate and a lower aggregate demand and output.
• C)If there is an unanticipated inflation rate,real wage will increase leading to a lower output and employment.
• D)If there is an unanticipated inflation rate,real wage will decrease leading to a lower output and employment.

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