

Understanding the Phillips Curve
Interactive Video
•
Other
•
11th - 12th Grade
•
Practice Problem
•
Hard
Jennifer Brown
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the Phillips curve illustrate in the short run?
A downward sloping line
An upward sloping line
A horizontal line
A vertical line
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is true about a recessionary gap?
It is characterized by high inflation and high unemployment.
It is characterized by low inflation and high unemployment.
It is characterized by high inflation and low unemployment.
It is characterized by low inflation and low unemployment.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is considered the natural rate of unemployment?
0% unemployment
10% unemployment
2% unemployment
5% unemployment
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to the Phillips curve when aggregate supply shifts to the left?
The Phillips curve shifts to the right.
The Phillips curve shifts to the left.
There is movement along the Phillips curve.
The Phillips curve becomes horizontal.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the long run, what happens when there is an increase in aggregate demand?
The economy remains in an inflationary gap.
The economy returns to full employment.
The economy experiences stagflation.
The economy experiences a recessionary gap.
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