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Suppose that in the first half of June 2022, the effects of a housing and financial crisis and an increase in world prices of oil
Suppose that in the first half of June 2022, the effects of a housing and financial crisis and an increase in world prices of oil and foodstuffs were affecting the economy. Refer to Scenario 36-1. The short-run effects of the housing and financial crisis are shown by a. moving to the left along the short-run Phillips curve. b. moving to the right along the short-run Phillips curve. c. shifting the short-run Phillips curve left. d. shifting the short-run Phillips curve right
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