In the Late 1960s and Early 1970s, How Did the Short-Run

question 197

Multiple Choice

In the late 1960s and early 1970s, how did the short-run Phillips curve shift?

• A) It shifted right as inflation expectations rose.
• B) It shifted right as inflation expectations fell.
• C) It shifted left as inflation expectations rose.
• D) It shifted left as inflation expectations fell.

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