An Increase in Expected Inflation Shifts

question 60

Multiple Choice

An increase in expected inflation shifts

• A)the long-run Phillips curve right.
• B)the short-run Phillips curve right.
• C)neither the short-run nor long-run Phillips curve right.
• D)both the short-run and long-run Phillips curve right.

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Definitions:

Elderly Person

An individual who has reached an advanced stage of life, often defined as being 65 years of age or older.

Sine Waves

Mathematical curves that describe a smooth, repetitive oscillation; commonly used to represent periodic phenomena in physics and engineering.

Decibels

A unit used to measure the intensity of sound or the power level of an electrical signal by comparing it with a given level on a logarithmic scale.

Hertz

A unit of frequency in the International System of Units (SI), equal to one cycle per second.