If the Long-Run Phillips Curve Shifts to the Right,then for Any

question 137

Multiple Choice

If the long-run Phillips curve shifts to the right,then for any given rate of money growth and inflation the economy has

• A)higher unemployment and lower output.
• B)higher unemployment and higher output.
• C)lower unemployment and lower output.
• D)lower unemployment and higher output.

---

Definitions:

Double-Entry Bookkeeping

An accounting method where every entry to an account requires a corresponding and opposite entry to a different account, ensuring the accounting equation balances.

Posting

The transfer of information from one record to another. This might be an automated process, depending on the electronic system in place.

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered but not yet paid for.

Accounts Payable

Money owed by a company to its creditors for purchases of goods and services, recorded as a liability on the balance sheet.