The Long-Run Phillips Curve Would Shift to the Left If

question 4

Multiple Choice

The long-run Phillips curve would shift to the left if

• A)the money supply growth rate increased or labor markets become more flexible.
• B)the money supply growth rate increased but not if labor markets become more flexible.
• C)labor markets become more flexible but not if the money supply growth rate increased.
• D)None of the above is correct.

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Definitions:

Accumulated Depreciation Accounts

Balance sheet accounts representing the total depreciation of a company's fixed assets over their useful lives.

Liability Accounts

These accounts track what a company owes to others, such as loans, accounts payable, mortgages, and other debts.

Adjusting Entry

Journal entries made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.

Unearned Revenue

Money received by a company for goods or services yet to be delivered or performed, considered a liability until the obligation is fulfilled.