An Increase in Inflation Expectations Shifts the Short-Run Phillips Curve

question 145

True/False

An increase in inflation expectations shifts the short-run Phillips curve right and has no effect on the long-run Phillips curve.

---

Definitions:

Conservation of Number

A developmental concept in children's cognitive psychology, noting their understanding that the quantity of a substance remains the same despite changes in its shape or form.

Cognitive Development

Cognitive development is the process through which individuals acquire and evolve in their problem-solving skills, memory, learning capacity, and understanding of the world.

Zone of Proximal Development

A concept in educational psychology referring to the difference between what a learner can do without help and what they can achieve with guidance or encouragement.

Homework Assignment

A task or work assigned to students by teachers to be completed outside the classroom, intended to reinforce learning, practice skills, or prepare for future lessons.