[Solved] The Short-Run Phillips Curve Shifting Down Following the 1989 Bank

Question 248
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The short-run Phillips curve shifting down following the 1989 Bank of Canada announcement that they were adopting inflation targets shows that workers and firms

A)had adaptive expectations.
B)had rational expectations and that they trusted Bank of Canada announcements.
C)preferred high unemployment to high inflation.
D)consistently ignored inflation when setting nominal wages.
E)Both A and B are correct answers.


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