After the 1960s, the short-run Phillips curve based on U.S. ...

[rachel9]

After the 1960s, the short-run Phillips curve based on U.S. economic data:
 a. began shifting inward.
 b. began shifting outward.
 c. did not shift at all.
 d. became virtually horizontal.
  e. became virtually vertical.

Question 2

Current thinking on the Phillips curve suggests that it would be best for policy makers to:
 a. focus on controlling unemployment.
  b. stimulate permanent shifts in aggregate supply.
 c. focus on controlling inflation.
 d. stimulate permanent shifts in aggregate demand.
 e. develop a two-pronged policy to control both unemployment and inflation.

[juicepod]

Answer to Question 1

b

Answer to Question 2

c