When workers expect more inflation than actually occurs: a. the ...

[codyclark]

When workers expect more inflation than actually occurs:
 a. the Phillips curve becomes vertical.
  b. the long-run Phillips curve shifts to the right.
  c. the short-run Phillips curve shifts to the left.
  d. there will be a movement down the short-run Phillips curve.
  e. there will be a movement up the short-run Phillips curve.

Question 2

Explain the impact of: 1 . A rent ceiling set below the equilibrium price. 2 . A price floor set above the equilibrium price.

[tjayeee]

Answer to Question 1

d

Answer to Question 2

A rent ceiling set below the equilibrium price results in a persistent shortage. A price floor set above the equilibrium price will result in a surplus.

[codyclark]

Thanks for the timely response, appreciate it

[dawsa925]

Excellent