Author Question: When the expected inflation rate , the short-run Phillips curve . A) rises; ... (Read 112 times)

Yolanda · **on:** Jun 29, 2018

When the expected inflation rate ________, the short-run Phillips curve ________.

A) rises; shifts downward
B) falls; shifts upward
C) rises; shifts upward
D) falls; does not shift
E) rises; might shift upward or downward depending on how the long-run Phillips curve shifts

Question 2

Refer to Figure 7.1. If Angus chooses to earn the most money, he will receive a daily payoff of

A) 100.
B) 350.
C) 550.
D) 700.