In the Late 1960s and Early 1970s, How Did the Short-Run

question 197

Multiple Choice

In the late 1960s and early 1970s, how did the short-run Phillips curve shift?

• A) It shifted right as inflation expectations rose.
• B) It shifted right as inflation expectations fell.
• C) It shifted left as inflation expectations rose.
• D) It shifted left as inflation expectations fell.

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Definitions:

Lower South

The Lower South refers to the southernmost states of the Confederacy during the American Civil War, including South Carolina, Georgia, Florida, Alabama, Mississippi, Louisiana, and Texas, known for their deep reliance on agriculture and slavery.

Slave Revolts

Uprisings and rebellions carried out by enslaved people against their conditions and overseers, aiming for freedom or retaliation against oppression.

West Indies

A region in the Caribbean Sea consisting of many islands divided into three main island groups: the Bahamas, the Greater Antilles, and the Lesser Antilles.

Brazil

The largest country in South America, known for its diverse culture, rainforests, and as the host of the world-famous Carnival festival.