Author Question: A decrease in the expected level of inflation will cause short-run aggregate supply to ____ and the ... (Read 58 times)

chandani · **on:** Jun 30, 2018

A decrease in the expected level of inflation will cause short-run aggregate supply to ____ and the short-run Phillips curve to ____.
a. shift left; shift right
b. shift left; shift left
c. shift right; shift right
d. shift right; shift left

Question 2

Which of the following statements is true?
a. World trade as a fraction of world GDP is much less than it was at the end of the 19th century.
b. War decreases the pace of globalization.
c. Large countries such as the U.S., Russia, and Japan have high scores in economic integration when measured against the criteria of Foreign Policy magazine.
d. Poor countries tend to have high scores in the personal contact area when measured against the criteria of Foreign Policy magazine.
e. The U.S. increased its international investments after the September 11, 2001 terrorist attacks to revive their economy.