An Economy's Short-Run Phillips Curve Will Shift Up in Response

question 109

Multiple Choice

An economy's short-run Phillips curve will shift up in response to:

• A)a change in the inflation rate.
• B)an increase in the unemployment rate.
• C)an increase in expected inflation.
• D)a contractionary fiscal policy.

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Definitions:

Polymodal Attention

The ability to direct attention to information presented simultaneously in different forms, such as visual and auditory.

Novelty Avoidance

The behavioral trait of preferring familiar objects and environments over new ones.

Habituation

The psychological process where an individual becomes accustomed to a stimulus after repeated exposure.

Visual-recognition Memory

The ability to recognize previously encountered visual stimuli and differentiate them from new stimuli.