An Increase in the Expected Rate of Inflation

question 119

Multiple Choice

An increase in the expected rate of inflation:

• A) shifts the short-run Phillips curve down.
• B) shifts the short-run Phillips curve up.
• C) moves the economy along the short-run Phillips curve to higher rates of inflation.
• D) moves the economy along the short-run Phillips curve to higher rates on unemployment.

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Definitions:

Capsid

The protein shell that encases the genetic material of a virus.

Envelope

In biology, it commonly refers to the outer coating of a virus that protects its genetic material; in other contexts, it can mean a paper cover for letters.

Stanley Prusiner

A Nobel Prize-winning scientist known for his discovery of prions, a type of protein that can cause infectious diseases in the brain.

Biological Principle

Fundamental concepts that underpin the study of biology, such as the cell theory, gene theory, evolution, homeostasis, and ecology.