In the Short Run, a Decline in Aggregate Demand Would

question 54

Multiple Choice

In the short run, a decline in aggregate demand would be associated with:

• A)an inward shift of the Phillips curve.
• B)an outward shift of the Phillips curve.
• C)a movement up along the Phillips curve.
• D)a movement down along the Phillips curve.
• E)no change along the Phillips curve.

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