An Increase in Expected Inflation Shifts

question 60

Multiple Choice

An increase in expected inflation shifts

• A)the long-run Phillips curve right.
• B)the short-run Phillips curve right.
• C)neither the short-run nor long-run Phillips curve right.
• D)both the short-run and long-run Phillips curve right.

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Definitions:

Altruism

Unselfish concern for the welfare of others.

Apathetic

Showing or feeling no interest, enthusiasm, or concern.

Consideration

Thoughtfulness and attentiveness toward others; in leadership, it refers to the degree a leader shows concern and respect for followers.

Thrift

The quality of using money and other resources carefully and not wastefully.