Where does the short-run Phillips curve intersect the long-run Phillips curve?
A) at the point where the rate of inflation and the unemployment rate are equal
B) at the natural rate of inflation
C) at the point where actual inflation is equal to expected inflation
D) at the short-run equilibrium inflation rate
E) There is no intersection between the short-run and long-run Phillips curves.
Correct Answer:
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Q84: If expected inflation rises, the long-run Phillips
Q85: An increase in the expected inflation rate
Q86: A decrease in expected inflation will
A)reduce real
Q87: When unemployment is below its natural rate,
Q88: What can the Bank of Canada do
Q90: What is the NAIRU?
A)the natural accelerating inflation
Q91: If the economy is producing at potential
Q92: The long-run aggregate supply curve is _,
Q93: Growth in aggregate demand will
A)cause deflation.
B)increase unemployment.
C)move
Q94: The long-run Phillips curve is _ than
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