Eco 111 quiz 11 tesu - Study guides, Class notes & Summaries

The sacrifice ratio is the correct answers number of percentage points annual output falls for each percentage point reduction in inflation A favorable supply shock shifts the short-run Phillips curve __________ and inflation ___________. correct answers left; falls Which of the following is an example of an adverse supply shock? correct answers A worldwide drought When monetary and fiscal policymakers expand aggregate demand, which of the following costs is incurred in the short run...