
Phillips Curve
Authored by esha jhaveri
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Phillips Curve is a graphical depiction of the
positive relationship between inflation and output.
negative relationship between inflation and the CPI.
negative relationship between inflation and unemployment.
negative relationship between unemployment and output.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The long-run Phillips Curve is vertical which indicates
that in the long-run, there is no tradeoff between inflation and unemployment.
that in the long-run, there is no tradeoff between inflation and the price level.
that in the long-run, the economy returns to a 4 percent level of inflation.
None of the above.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The short-run Phillips Curve shifts upward when
the Aggregate Demand curve shifts to the right.
the Aggregate Supply curve shifts to the right.
there is a fall in inflation expectations.
there is a rise in rational expectations.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the Phillips Curve is vertical in the long run, then an increase in the money supply from year to year will _______ the unemployment rate and will _________inflation rate.
increase; increase
increase; not change
not change; increase
not change; not change
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If inflationary expectations increase, the Phillips curve will
shift to the right
shift to the left
become vertical
become upward sloping
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The long-run Phillips curve
is vertical at the natural unemployment rate and its position is independent of monetary policy.
will shift to the right as a result of expansionary monetary policy.
will shift vertically to a higher inflation rate and expected inflation as a result of expansionary monetary policy.
will shift to the left as a result of expansionary monetary policy.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the Phillips curve, in the short run, if policy makers choose an expansionary policy to lower the rate of unemployment ?
The economy will experience an increase in inflation
The economy will experience a decrease in inflation
Inflation will be unaffected if price expectations are unchanging
None of these answers
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