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Author Question: When workers expect more inflation than actually occurs: a. the Phillips curve becomes vertical. ... (Read 59 times)

codyclark

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on: Jun 30, 2018
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.


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tjayeee

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Reply #1 on: Jun 30, 2018
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

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

strudel15

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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