4. If expectations are revised so that the public believes the inflation rates w

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4. If expectations are revised so that the public believes the inflation rates will rise, then the short run phillips curve will: (Points : 7)        shift upward
       shift downward
       remain unchanged
       change in an unpredictable manner Question 5.5. If the realized inflation rate exceeds the anticipated inflation rate, then the unemployment rate will: (Points : 7)        exceed the natural rate
       be below the natural rate
       will equal the natural rate
       none of the above 4. If expectations are revised so that the public believes the inflation rates will rise, then the short run phillips curve will: (Points : 7)        shift upward
       shift downward
       remain unchanged
       change in an unpredictable manner

Explanation / Answer

4. Choice B. Shift downward

5. Choice B. Be below the natural rate

Higher employment leads to higher inflation

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4. If expectations are revised so that the public believes the inflation rates w

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