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- Subject
- The Phillips Curveeconomics-mcqs › the-phillips-curve
- Published
- 27 May 2019
- Last updated
- 28 May 2026
Explanation
The short-run Phillips curve demonstrates an inverse relationship between inflation and unemployment, meaning that when inflation rises, unemployment tends to fall.
More The Phillips Curve MCQs
Practice related questions from the same subject.
- 1.What is the likely effect of a credible and announced monetary policy tightening if individuals form rational expectations?
- 2.Refer to Exhibit 6. If the economy is initially at long-run equilibrium at point E, which point will the economy move toward following an unanticipated monetary tightening?
- 3.Refer to Exhibit 6. If the economy is initially at long-run equilibrium at point E, what point will the economy move toward following a sudden rise in government expenditure?
- 4.Based on Exhibit 6, if individuals anticipate a 3% inflation rate and the actual inflation rate is also 3%, at which point is the economy functioning?
- 5.What is the effect of a reduction in the price of imported oil on the short-run Phillips curve?
- 6.Which factor would cause the long-run Phillips curve to shift rightward?
- 7.According to the Phillips curve, what is the short-term effect on inflation if policymakers implement an expansionary policy to reduce unemployment?
- 8.What does the original Phillips curve depict?
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