3. An increase in expected inflation will shift a. the short-run Phillips curve downward. b. the short-run
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3. An increase in expected inflation will shift
a. the short-run Phillips curve downward.
b. the short-run Phillips curve upward.
c. the long-run Phillips curve upward.
d. the long-run Phillips curve downward.
e. neither the short-run nor the long-run Phillips curve.
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