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Author Question: Refer to Figure 17-2.Suppose the Fed used expansionary policy to push short-run ... (Read 102 times)

nautica902

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Question 1

Figure 17-2










Refer to Figure 17-2.  Suppose the economy is at point A in the figure above. Which of the following is true?


◦ The short-run Phillips curve will shift to the right.
◦ The short-run Phillips curve will shift to the left.
◦ The long-run Phillips curve will shift to the left.
◦ Actual inflation and expected inflation are the same.
◦ The long-run Phillips curve will shift to the right.

Question 2

Figure 17-2










Refer to Figure 17-2.  Suppose the Fed used expansionary policy to push short-run equilibrium to point B. If the short-run equilibrium remained at point B long enough,


◦ the short-run Phillips curve would shift up.
◦ the short-run Phillips curve would shift down.
◦ the economy would move back to point A.
◦ the economy would stay at point B in the long run.


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Marked as best answer by nautica902 on Mar 16, 2019

deja

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