Multiple Choice
The Phillips Curve reveals that with a constant short-run aggregate supply curve, the larger the increase in aggregate demand:
A) the lesser the increase in real output and the higher the rate of inflation.
B) the greater the increase in real output and the higher the rate of inflation.
C) the greater the increase in real output and the lower the rate of inflation.
D) the lesser the increase in real output and the lower the rate of inflation.
Correct Answer:
Verified
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