In 1981 the Reserve Bank unexpectedly decreased the money supply to increase interest rates.The effect of this policy was a(n)
A) movement upward along the short-run Phillips curve.
B) rightward shift of the long-run Phillips curve.
C) downward shift of the short-run Phillips curve.
D) upward shift of the short-run Phillips curve.
E) movement downward along the short-run Phillips curve.
Correct Answer:
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