MCQOPTIONS
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MCQOPTIONS
| 1. |
Refer to Exhibit 6. Suppose the economy is operating at point (D) As people revise their price expectations ? |
| A. | The short-run Phillips curve will shift in the direction of the short-run Phillips curve associated with an expectation of 3 percent inflation |
| B. | The short-run Phillips curve will shift in the direction of the short-run Phillips curve associated with an expectation of 9 per cent inflation |
| C. | The short-run Phillips curve will shift in the direction of the short-run Phillips curve associated with an expectation of 6 percent inflation |
| D. | The long-run Phillips curve will shift to the left |
| Answer» E. | |