The Long-Run Phillips Curve Would Shift Left If

question 98

Multiple Choice

The long-run Phillips curve would shift left if

• A)the money supply increased or if the minimum wage was reduced.
• B)the money supply increased but not if the minimum wage was reduced.
• C)the minimum wage was reduced but not if the money supply increased.
• D)None of the above is correct.

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Definitions:

Atom

An atom is the smallest constituent unit of ordinary matter that has the properties of a chemical element, consisting of a nucleus surrounded by electrons.

Smallest Unit

The most basic, indivisible component of a substance, such as an atom in elements or a molecule in compounds.

Atom

The fundamental unit of a chemical element, made up of a core of protons and neutrons, with electrons circling this core.

Elements

Pure substances consisting of only one type of atom, distinguished by their atomic number.