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Employment, Output, and Inflation (CIA4U) Flashcards | StudBud

Explore/Employment, Output, and Inflation (CIA4U)

Employment, Output, and Inflation (CIA4U)

8 terms·StudBud Administration·99 plays

Explores relationship between aggregate supply, aggregate demand, and the Phillips curve. #phillipscurve #aggregatesupply #aggregatedemand

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Questions 8

Answers

1
What will we see happen with the Phillips curve when the AS curve shifts to the left?
A movement along the PC, upward and to the left.
The Phillips curve will shift left.
A movement along the PC, down and to the right.
The Phillips curve will shift right.
2
What will we see happen with the Phillips curve when the AD curve shifts to the right?
A movement along the PC, down and to the right.
A movement along the PC, upward and to the left.
The Phillips curve will shift left.
The Phillips curve will shift right.
3
What curve is illustrated in this image?
Phillips Curve
Aggregate Supply Curve
Aggregate Demand Curve
Laffer Curve
4
What will happen to aggregate supply or demand when the Phillips curve shifts this way?
aggregate supply shifts left
aggregate demand shifts left
aggregate demand shifts right
aggregate supply shifts right
5
What curve is illustrated in this image?
Phillips Curve
Laffer Curve
Aggregate Supply Curve
Aggregate Demand Curve
6
What is depicted in this model?
Laffer Curve
Phillips Curve
Aggregate Demand Curve
Aggregate Supply Curve
7
What will we see happen with the Phillips curve when the AS curve shifts to the right?
The Phillips curve will shift right.
The Phillips curve will shift left.
A movement along the PC, upward and to the left.
A movement along the PC, down and to the right.
8
What will we see happen with the Phillips curve when the AD curve shifts to the left?
A movement along the PC, upward and to the left.
The Phillips curve will shift right.
A movement along the PC, down and to the right.
The Phillips curve will shift left.