The Phillips Curve

A. reduce inflation with little or no increase in unemployment
B. Increase inflation but would decrease unemployment by an unusually large amount
C. increase inflation with little or no decrease in unemployment
D. reduce inflation but it would increase unemployment by an unusually large amount

A. H
B. F
C. E
D. c

A. d
B. G
C. E
D. b

A. b
B. I
C. a
D. H

A. Shifts the short-run Phillips curve downward and make the unemployment inflation trade-off less favorable
B. Shifts the short run Phillips curve upward and makes the unemployment inflation trade-off more favorable
C. Shifts the short run Phillips curve upward and makes the Unemployment inflation trade off more favorable
D. Shifts the short run Phillips curve downward and makes the unemployment inflation trade off more favorable

A. An increase in the minimum wage
B. An increase in the expected inflation
C. An increase in the price of foreign oil
D. An increase in the aggregate demand

A. The economy will experience an increase in inflation
B. The economy will experience a decrease in inflation
C. Inflation will be unaffected if price expectations are unchanging
D. None of these answers

A. a higher rate of inflation is associated with a lower unemployment rate
B. a higher rate of growth in output is associated with a lower unemployment rate
C. a higher rate of inflation is associated with a higher unemployment rate
D. a higher rate of growth in output is associated with a higher unemployment rate.

A. the trade-off between inflation and unemployment
B. The trade-off between output and unemployment
C. The positive relationship between output and unemployment
D. The positive relationship between inflation and unemployment

A. an increase in the level of output
B. a decrease in the unemployment rate
C. an increase in the rate of inflation
D. All of these answers