During which time frame was Canada's short-run Phillips curve farthest from the origin?
A) from 1967 to 1972
B) from 1973 to 1982
C) from 1983 to 1991
D) from 1992 to 2012

Question

During which time frame was Canada's short-run Phillips curve farthest from the origin?  
A) from 1967 to 1972 
B) from 1973 to 1982 
C) from 1983 to 1991 
D) from 1992 to 2012

Quizplus · Accepted Answer

According to the graph of Canada's short-run Phillips curve, the curve was farthest from the origin during the period from 1973 to 1982. This is because this period was characterized by high inflation rates and elevated unemployment rates, indicating a high level of inflationary pressure in the economy.

During Which Time Frame Was Canada's Short-Run Phillips Curve Farthest