The inflation associated with the oil embargoes of the 1970s ...

[bobthebuilder]

The inflation associated with the oil embargoes of the 1970s resulted in:
 a. reduced unemployment because aggregate demand increased.
  b. reduced unemployment because aggregate demand fell.
 c. increased unemployment because aggregate demand increased.
  d. increased unemployment because aggregate demand fell.
 e. increased unemployment because aggregate supply fell.

Question 2

The inflation associated with the oil embargoes of the 1970s illustrated the _____ of the downward-sloping Phillips curve in the long run, as unemployment _____ during this period.
 a. validity; fell
 b. validity; rose
 c. fallacy; rose
 d. fallacy; fell
 e. fallacy; did not change

[nixon_s]

Answer to Question 1

e

Answer to Question 2

c

[bobthebuilder]

Thanks for the timely response, appreciate it

[frankwu0507]

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