An Increase in Expected Inflation Shifts

question 60

Multiple Choice

An increase in expected inflation shifts

• A)the long-run Phillips curve right.
• B)the short-run Phillips curve right.
• C)neither the short-run nor long-run Phillips curve right.
• D)both the short-run and long-run Phillips curve right.

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Definitions:

President Barack Obama

The 44th President of the United States, serving two terms from 2009 to 2017, known for being the first African American to hold the office.

Fifth Amendment

A provision in the U.S. Constitution that guarantees several protections for individuals, including against self-incrimination and double jeopardy, and ensures due process.

Fourth Amendment

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Articles of Confederation

The first written constitution of the United States, serving as its supreme law from 1781 to 1789.