Macroeconomists in the Early 1960s

Macroeconomists in the early 1960s

A) tended to think that the short-run Phillips curve was fixed and that aggregate demand could be increased without causing the Phillips curve to shift to the right.
B) tended to think that an increase in aggregate demand would eventually cause expected inflation to increase, which would shift the Phillips curve to the right.
C) tended to think that an increase in aggregate demand would eventually cause expected inflation to increase, which would shift the Phillips curve to the left.
D) tended to think that supply created its own demand.