The short-run Phillips curve is drawn for a given expected ...

[newbem]

The short-run Phillips curve is drawn for a given expected inflation rate and so it shifts as inflation expectations change.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

In its original form, the Phillips curve depicted a situation in which an economy could reduce its unemployment rate by holding the inflation rate steady.
 a. True
  b. False
  Indicate whether the statement is true or false

[tuwy]

Answer to Question 1

True

Answer to Question 2

False

[newbem]

Thanks for the timely response, appreciate it

[mohan]

Great answer, keep it coming