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:

Personality

The combination of characteristics or qualities that form an individual's distinctive character, influencing patterns of thought, feeling, and behavior.

Temperament

The aspects of an individual’s personality, such as mood and emotional reactivity, that are believed to be innate.

Emotionality

The observable behaviors and physiological responses associated with emotions.

Behavior

The actions or reactions of an individual, usually in relation to the environment.