Short-Run Phillips Curve Concepts

Short-Run Phillips Curve Concepts

Assessment

Interactive Video

History

12th Grade

Hard

Created by

Hansen Steck

Used 1+ times

FREE Resource

4 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What relationship does the short-run Phillips curve illustrate?

A direct relationship between inflation and unemployment.

An inverse relationship between inflation and unemployment.

No relationship between inflation and unemployment.

A direct relationship between interest rates and unemployment.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key characteristic of the long-run Phillips curve?

It is downward sloping, showing a trade-off between inflation and unemployment.

It is vertical at the natural rate of unemployment.

It shifts rightward when aggregate demand increases.

It becomes horizontal during periods of economic growth.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If consumer spending increases, how would this be represented on the short-run Phillips curve?

A leftward shift of the short-run Phillips curve.

A rightward shift of the short-run Phillips curve.

A movement upward along the short-run Phillips curve.

A movement downward along the short-run Phillips curve.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A decrease in short-run aggregate supply will cause the short-run Phillips curve to:

Shift to the left.

Shift to the right.

Move upward along the curve.

Move downward along the curve.

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