According to the Phillips curve presented in the text, a positive macroeconomic shock decreases the rate of inflation.

Name: According to the Phillips curve presented in the text, a positive macroeconomic shock decreases the rate of inflation.
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The Phillips curve suggests that a positive macroeconomic shock, which increases demand, typically leads to higher employment and lower unemployment, thereby increasing the rate of inflation, not decreasing it.

According to the Phillips Curve Presented in the Text, a Positive