Figure 136 Alt Text for Figure 13

question 72

Multiple Choice

Figure 13.6 Alt text for Figure 13.6: In figure 13.6, a graph shows the short-run and long-run Phillips curves.
Long description for Figure 13.6: The x-axis is labelled, unemployment rate percent.The y-axis is labelled, inflation rate percent per year.A straight line labelled, short-run Philips Curve, begins at the top left corner and slopes down to the end of the x-axis.A straight line labelled, long-run Philips Curve is perpendicular to the x-axis, and begins from the x-axis value 5.Long-run Philips Curve intersects the short-run Philips Curve at point A (5, 2) , near the bottom of the line and passes through point C (5, 4.8%) near the top end.Point B (3%, 4.8%) is plotted near the left end of the short-run Philips Curve, with the same y-axis value as point C.The points are connected to their respective coordinates on the x and y-axes with dotted lines.
-Refer to Figure 13.6.If firms and workers have rational expectations, an expansionary monetary policy will cause the short-run equilibrium to move from

• A)point B to point C.
• B)point C to point A.
• C)point A to point B.
• D)point B to point A.
• E)point A to point C.

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Definitions:

Disruptive Change

Significant alteration that drastically impacts the way a sector operates, often leading to the creation of new markets and the decline or transformation of existing ones.

Unplanned Change

Modifications or adjustments that occur without forethought or intention, often in response to immediate circumstances or emergencies.

Bottom-Up Change

Change initiatives come from all levels in the organisation.

Top-Level Managers

Senior executives responsible for the overall direction and success of an organization.