Author Question: An increase in price expectations shifts the long-run Phillips curve, but not the short-run Phillips ... (Read 81 times)

tnt_battle · **on:** Jun 30, 2018

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