Accelerating Inflation Causes Nominal Wages to Rise, Shifting the Short-Run

question 223

Multiple Choice

Accelerating inflation causes nominal wages to rise, shifting the short-run aggregate supply curve to the _____ and the Phillips curve to the _____.

• A) right; right
• B) left; right
• C) right; left
• D) left; left

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Definitions:

Republican Coalition

A political alliance or grouping within the Republican Party, often formed around shared interests or political ideologies.

Gender Gap

The disparity between how different genders experience societal, economic, or political issues and outcomes.

Obama

The 44th President of the United States, serving from 2009 to 2017, and the first African American to hold the office.

McCain

Refers to John McCain, an American politician who served as a United States Senator and was the Republican nominee for President in the 2008 election.