Author Question: Refer to Figure 17-3.The shifts shown in the short-run and long-run Phillips curves ... (Read 81 times)

ts19998 · **on:** Mar 16, 2019

Question 1

Figure 17-2

Refer to Figure 17-2. The nonaccelerating inflation rate of unemployment, or NAIRU, is associated with which point rate in the figure above?

◦ A
◦ B
◦ C
◦ All of these

Question 2

Figure 17-3

Refer to Figure 17-3. The shifts shown in the short-run and long-run Phillips curves between period 1 and period 2 could be explained by

◦ an increase in the expected inflation rate from 4.0 to 5.5 percent.
◦ an increase in the natural rate of unemployment from 5.5 to 6.8 percent.
◦ either an increase in expected inflation from 4.0 to 5.5 percent or an increase in the natural rate of unemployment from 5.5 to 6.8 percent.
◦ None of these is correct.

batool · **Reply #1 on:** Mar 16, 2019

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