The Phillips Curve Shifted During the 1970s Primarily Because of

question 64

Multiple Choice

The Phillips curve shifted during the 1970s primarily because of

• A)the two large oil price shocks.
• B)the changing demographics of the population.
• C)tight monetary policy.
• D)easy fiscal policy.

Analyze how trade affects national standards of living and employment.

Understand the basic concepts of international trade, including importing and exporting.

Analyze the impact of world prices on a country's trade behavior (exporting and importing).

Apply the concept of comparative advantage to determine trade patterns between nations.

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