A decline in aggregate demand is analogous to an upward movement along the short-run Phillips curve.

Name: A decline in aggregate demand is analogous to an upward movement along the short-run Phillips curve.
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A decline in aggregate demand typically leads to a leftward shift of the short-run Phillips curve, not an upward movement along it. An upward movement along the curve would imply higher inflation and lower unemployment, which is not the case with declining aggregate demand.

A Decline in Aggregate Demand Is Analogous to an Upward