In recent years, inflation expectations have fallen. How did this shift the short-run Phillips curve, and what are the implications for unemployment? This shifted the short-run Phillips curve left, meaning that at any given inflation rate, unemployment will be lower in the short run than before. This shifted the short-run Phillips curve right, meaning that at any given inflation rate, unemployment will be lower in the short run than before. This shifted the short-run Phillips curve right, meaning that at any given inflation rate, unemployment will be higher in the short run than before. This shifted the short-run Phillips curve left, meaning that at any given inflation rate, unemployment will be higher in the short run than before.
In recent years, inflation expectations have fallen. How did this shift the short-run
|
This shifted the short-run Phillips curve left, meaning that at any given inflation rate, unemployment will be lower in the short run than before. |
||
|
This shifted the short-run Phillips curve right, meaning that at any given inflation rate, unemployment will be lower in the short run than before. |
||
|
This shifted the short-run Phillips curve right, meaning that at any given inflation rate, unemployment will be higher in the short run than before. |
||
|
This shifted the short-run Phillips curve left, meaning that at any given inflation rate, unemployment will be higher in the short run than before. |
Step by step
Solved in 2 steps
