The figure above shows some Phillips curves for an economy.
-In the figure above, the shift from the short-run Phillips curve SRPC₀ and the long-run Phillips curve LRPC₀ to the short-run Phillips curve SRPC₂ and the long-run Phillips curve LRPC₂ is the result of ________ in the expected inflation rate and ________ in the natural unemployment rate.
Definitions:
Inhospitable
Referring to environments that are harsh, difficult to live in, or unwelcoming to human settlement or certain forms of life.
Insecticide
Chemical substances used to kill or manage the population of insects, often employed in agriculture, public health, and homes.
Aerial Spraying
The application of pesticides or other chemicals from aircraft to control pests and diseases in crops or to control mosquito populations.
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