For This Question,assume That the Phillips Curve Equation Is Represented

question 48

Multiple Choice

For this question,assume that the Phillips curve equation is represented by the following equation: πt - πt-1 = (m + z) - αut.A reduction in the unemployment rate will cause

• A)a reduction in the markup over labor costs (i.e.,a reduction in m).
• B)an increase in the markup over labor costs.
• C)an increase in the inflation rate over time.
• D)a decrease in the inflation rate over time.
• E)none of the above

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