Author Question: Contrary to what the Phillips curve would have predicted, the U.S. economy in the 1970s experienced ... (Read 81 times)

bobbysung · **on:** Jun 30, 2018

Contrary to what the Phillips curve would have predicted, the U.S. economy in the 1970s experienced simultaneous increases in inflation and unemployment.
a. True
b. False
Indicate whether the statement is true or false

Question 2

As people come to expect higher inflation, the long-run Phillips curve shifts leftward.
a. True
b. False
Indicate whether the statement is true or false