Macro economic misery diminished during the first Reagan administration,which means that the Phillips curve
A) Maintained its position despite important changes in the composition of the labor force.
B) Shifted to the left,thereby implying an easing of the trade-off between inflation and unemployment.
C) Shifted to the right,thereby implying that stagflation had become a more acute problem than before.
D) Flattened out,thereby implying that some amount of inflation is consistent with any rate of unemployment.
Correct Answer:
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Q22: A movement along the Phillips curve shows
Q30: An attempt to lower unemployment with demand-side
Q34: Only a _ shift of the _
Q36: Higher unemployment and higher inflation rates will
Q38: Supply-side policies are designed to achieve
A)A leftward
Q39: The Phillips curve shows
A)A historical (inverse)relationship between
Q40: Rightward AS shifts will cause
A)Leftward Phillips curve
Q42: Which of the following theorists believe a
Q53: Supply-side policies are designed to achieve a
A)Movement
Q56: Stagflation refers to
A)Inflation resulting from lower unemployment
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