The Short-Run Tradeoff Between the Unemployment Rate and the Inflation

question 189

Multiple Choice

The short-run tradeoff between the unemployment rate and the inflation rate shown by the Phillips curve is represented in the AS-AD model by

• A) the upward-sloping aggregate supply curve.
• B) the vertical potential GDP line.
• C) the downward-sloping aggregate demand curve.
• D) rightward shifts of the aggregate supply curve.
• E) leftward shifts of the aggregate supply curve.

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