An increase in price expectations shifts the long-run Phillips ...

[tnt_battle]

An increase in price expectations shifts the long-run Phillips curve, but not the short-run Phillips curve.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Before discovering that the short-run Phillips curve does not show the true long-run situation, policy makers were successful in trying to bring the economy to the zero-inflation, zero-unemployment point on the short-run curve.
 a. True
  b. False
  Indicate whether the statement is true or false

[upturnedfurball]

Answer to Question 1

False

Answer to Question 2

False

[tnt_battle]

Thanks for the timely response, appreciate it

[bdobbins]

Gracias!