Moving upward along the aggregate supply curve, is equivalent to
A)moving upward along the short-run Phillips curve.
B)shifting the short-run Phillips curve rightward.
C)shifting the short-run Phillips curve leftward.
D)shifting the short-run Phillips curve upward.
E)moving downward along the short-run Phillips curve.

Question

Quizplus · Accepted Answer

Moving upward along the aggregate supply curve indicates higher output and price levels, which corresponds to moving upward along the short-run Phillips curve, showing a trade-off between inflation and unemployment.

Moving Upward Along the Aggregate Supply Curve, Is Equivalent to