The figure above shows some Phillips curves for an economy.
-In the figure above, the shift from the short-run Phillips curve SRPC₀ and the long-run Phillips curve LRPC₀ to the short-run Phillips curve SRPC₁ and the long-run Phillips curve LRPC₁ is the result of ________ in the expected inflation rate and ________ in the natural unemployment rate.

Question

The figure above shows some Phillips curves for an economy. -In the figure above, the shift from the short-run Phillips curve SRPC<sub>0</sub> and the long-run Phillips curve LRPC<sub>0</sub> to the short-run Phillips curve SRPC<sub>1</sub> and the long-run Phillips curve LRPC<sub>1</sub> is the result of ________ in the expected inflation rate and ________ in the natural unemployment rate. A) an increase; an increase B) no change; an increase C) a decrease; a decrease D) an increase; no change E) a decrease; no change

Quizplus · Accepted Answer

The Answer of The figure above shows some Phillips curves for an economy. -In the figure above, the shift from the short-run Phillips curve SRPC₀ and the long-run Phillips curve LRPC₀ to the short-run Phillips curve SRPC₁ and the long-run Phillips curve LRPC₁ is the result of ________ in the expected inflation rate and ________ in the natural unemployment rate. A) an increase; an increase B) no change; an increase C) a decrease; a decrease D) an increase; no change E) a decrease; no change

The Figure Above Shows Some Phillips Curves for an Economy