An Increase in Expected Inflation Will Affect the Short-Run Phillips

question 88

Multiple Choice

An increase in expected inflation will affect the short-run Phillips curve:

• A) by shifting it downward; the actual rate of inflation at any given unemployment rate will fall by the same amount.
• B) by shifting it upward; the actual rate of inflation at any given unemployment rate will also be higher when the expected inflation rate is higher.
• C) by moving along the same curve, where it equals the actual rate of inflation.
• D) only if the economy is at the nonaccelerating inflation rate of unemployment.

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Definitions:

Depreciation

The systematic allocation of the cost of a tangible asset over its expected useful life, reflecting its consumption, wear and tear, or obsolescence.

Accumulated Depreciation

The total amount of an asset's cost that has been allocated as depreciation expense over its useful life, reducing its book value on the balance sheet.

Asset

Tangible or intangible items of value owned or controlled by a person or company, capable of producing future economic benefits.