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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Definitions:

Trial Balance

A worksheet used in accounting that compiles all ledger balances into matching total amounts in debit and credit columns.

Debit Totals

An aggregate amount of all debits recorded in an accounting period, indicating resources used or expenses.

Credit Totals

The sum of all credit entries made in the accounting ledger, used in balancing the books.

Patents

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