Which of the following is FALSE about the Phillips curve? O a. The addition of the term of supply shocks in the Phillips curve was inspired by the 19 OPEC-induced oil price hikes. O b. The Phillips curve can be derived from the expression for the upward-sloping short-ru aggregate supply curve. O c. The greater the deviation of unemployment from its natural rate, the higher the inflatio rate. O d. An example of adaptive expectations is when people expect current inflation to be equa to past inflation.
Which of the following is FALSE about the Phillips curve? O a. The addition of the term of supply shocks in the Phillips curve was inspired by the 19 OPEC-induced oil price hikes. O b. The Phillips curve can be derived from the expression for the upward-sloping short-ru aggregate supply curve. O c. The greater the deviation of unemployment from its natural rate, the higher the inflatio rate. O d. An example of adaptive expectations is when people expect current inflation to be equa to past inflation.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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