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Phillips Curve Flashcards | StudBud
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Phillips Curve
Phillips Curve
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A short review of the Phillips curve
Flashcards
9 cards
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Practice quiz
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Questions
9
Answers
1
What factor would shift the Short Run Phillips curve to the right?
Decrease in input prices
Increased unemployment
Increased inflationary expectations
Increase in SRAS
2
The Long Run Phillips curve is ____________
horizontal
vertical
downward sloping
upward sloping
3
The SRPC is usually _________ by an increase in aggregate supply.
shifted rightward
is not affected
shifted leftward
shifted upward
4
The Phillips curve shows the relationship between ____________ and _______________
Interest Rate; Real GDP
Inflation; Unemployment
Interest Rate; Unemployment
Inflation; Real GDP
5
How does an increase in aggregate demand shift the Short Run Phillips curve?
It doesn't
Shifts Left
Unemployment decreases while inflation stays the same
Shifts Right
6
As unemployment decreases, inflation ______________
decreases
becomes 0
stays the same
increases
7
In this graph, what is the natural rate of unemployment?
6
9
0
12
8
The Phillips Curve can be shifted by all of these things EXCEPT:
productivity
input prices
Interest Rate
government actions
9
A negative supply shock shifts the Phillips curve _____________
rightwards
leftwards
not at all
down
