A lower natural rate of unemployment would affect the short-run Phillips curve in all of the following ways, except: A. The output gap version of the Phillips curve would not shift. В. It would shift the unemployment rate version of the short-run Phillips curve down. С. The output gap version of the Phillips curve would shift down. D. It would shift the unemployment rate version of the short-turn Phillips curve due to a smaller inflation rate.

A lower natural rate of unemployment would affect the short-run Phillips curve in all of the following ways, except: A. The output gap version of the Phillips curve would not shift. В. It would shift the unemployment rate version of the short-run Phillips curve down. С. The output gap version of the Phillips curve would shift down. D. It would shift the unemployment rate version of the short-turn Phillips curve due to a smaller inflation rate.

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter35: The Short-Run Trade-off Between Inflation And Unemployment

Section: Chapter Questions

Problem 3QCMC

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