The Short-Run Phillips Curve

question 34

Multiple Choice

The short-run Phillips curve:

• A) shifts upward if expected inflation increases.
• B) shifts upward if expected inflation decreases.
• C) shifts downward if expected inflation increases.
• D) is vertical.

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Definitions:

False Memories

Involves the recollection of events that did not happen or the distortion of actual events.

Word-Superiority Effect

The cognitive phenomenon in which people have an easier time recognizing letters when they are part of a word rather than standing alone or in a non-word group.

Confabulation

A memory disturbance in which an individual produces fabricated, distorted, or misinterpreted memories about oneself or the world, without the intention to deceive.

Korsakoff's Syndrome

A long-term memory condition resulting from a significant shortage of thiamine (vitamin B1), commonly linked to excessive alcohol consumption.