According to the Modern View of the Phillips Curve, Expansionary

question 11

Multiple Choice

According to the modern view of the Phillips curve, expansionary macroeconomic policy that leads to inflation will reduce unemployment

• A) only if people underestimate the inflationary side effects of the policy.
• B) only if people overestimate the inflationary side effects of the policy.
• C) if people accurately anticipate the inflationary side effects of the policy.
• D) only if monetary policy provides the macroeconomic stimulus.

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