If the Unemployment Rate Is Below the Natural Rate, Then

question 124

Multiple Choice

If the unemployment rate is below the natural rate, then

• A)inflation is less than expected.As inflation expectations are revised the short-run Phillips curve will shift right.
• B)inflation is less than expected.As inflation expectations are revised the short-run Phillips curve will shift left.
• C)inflation is greater than expected.As inflation expectations are revised the short-run Phillips curve will shift left.
• D)inflation is greater than expected.As inflation expectations are revised the short-run Phillips curve will shift right.

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