The Figure Given Below Shows the Phillips Curves of the U.S.economy

question 24

Multiple Choice

The figure given below shows the Phillips curves of the U.S.economy during early 1960s to late 1970s. Figure 14.2 Refer to Figure 14.2.If the natural rate of unemployment is 5 percent, which of the following would cause a movement along Phillips curve III from point A to point B?

• A)An inward shift of the aggregate demand curve
• B)An outward shift of the aggregate demand curve
• C)A movement down along the aggregate supply curve
• D)A movement down along the aggregate demand curve
• E)A movement up along the aggregate demand curve

---

Definitions:

Net Worth

The total value of an individual's or entity's assets minus liabilities, indicating financial health or position.

Stewardship

The responsible overseeing and protection of something considered worth caring for and preserving, often related to environmental and natural resources.

Technological-Economic Growth

The expansion of economic activity and advancements in society driven by technological innovation and increased production efficiency.

Market-Based Competition

The rivalry among businesses to attract customers and achieve higher sales and profits within a market economy.