Author Question: Refer to Figure 23-1. If the economy is in equilibrium, it is at a level of aggregate expenditure ... (Read 89 times)

ss2343 · **on:** Jun 29, 2018

Refer to Figure 23-1. If the economy is in equilibrium, it is at a level of aggregate expenditure given by point

A) J. B) K.
C) L. D) Points J, K and L all represent equilibrium.

Question 2

If expected inflation falls, the long-run Phillips curve will

A) shift to the left. B) shift to the right.
C) become negatively sloped. D) not be affected.