Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 34 - Part XII - The Influence of Monetary and Fiscal Policy on Aggregate Demand - Quick Check Multiple Choice - Page 767: 3

Answer

c. shifts the short-run Phillips curve to the right.

Work Step by Step

Supply shocks shift the Phillips curve to the right, thereby making unemployment higher at the same inflation rates.
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