In the Early 1970s,the Short-Run Phillips Curve Shifted

question 20

Multiple Choice

In the early 1970s,the short-run Phillips curve shifted

• A)rightward as inflation expectations rose.
• B)rightward as inflation expectations fell.
• C)leftward as inflation expectations rose.
• D)leftward as inflation expectations fell.

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Definitions:

Perception

The process of organizing and interpreting sensory information, enabling us to recognize meaningful objects and events.

Detection

The act or process of discovering or identifying the presence of a specific substance, condition, or characteristic.

Activation

In psychology, the process of stimulating an action or response by using a stimulus, often related to the arousal of some physiological or psychological activity.

Sensory Adaptation

The method through which sensory receptors decrease in sensitivity to unchanging stimuli as time progresses.