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Author Question: Effect of Inflation on the Short-Run Phillips CurveInflation rate(percent per year)Unemployment rate ... (Read 111 times)

mt05945

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on: Nov 23, 2022
Effect of Inflation on the Short-Run Phillips Curve


Inflation rate
(percent per year)		Unemployment rate (percent)
9​5.5​
4​7.5​

Refer to the data in the table for the short-run Phillips curve. The short-run and long-run Phillips curves intersect at an inflation rate of 9 percent per year and an unemployment rate of 5.5 percent. The Fed announces its intention to decrease inflation from 9 percent to 4 percent per year, and it succeeds. If expectations of inflation are reduced to 7 percent by the Fed's announcement, the rate of unemployment will be ________ percent in the short run.
◦ less than 5.5
◦ 5.5
◦ between 5.5 and 7.5
◦ 7.5
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by mt05945 on Nov 23, 2022

as4309

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Reply #1 on: Nov 23, 2022
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mt05945

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Reply 2 on: Nov 23, 2022
Wow, this really help

deja

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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