If Changes in Inflation Are Higher Than Expected

question 103

Multiple Choice

If changes in inflation are higher than expected,

• A)the short-run Phillips curve will be positively sloped, but not vertical.
• B)the short-run Phillips curve will be negatively sloped.
• C)the short-run Phillips curve will be vertical.
• D)the long-run Phillips curve will be negatively sloped.
• E)the short-run Phillips curve will shift to the left.

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