2008 CFA Level 1 － Sample 样题(1)－Q19 class, black, style

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19、According to the Phillips curve approach, when inflation is less than expected, the most likely initial effect is that:

A. real wage rates will fall.

B. real interest rates will fall.

C. the natural rate of unemployment will rise.

D. unemployment will rise above its natural rate.

[此贴子已经被作者于2008-11-7 16:38:25编辑过]

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 Correct answer = D

"Inflation," Michael Parkin
2008 Modular Level I, Vol. 2, pp. 416-417
Study Session 6-26-e
explain the impact of inflation on unemployment, and describe the short-run and long-run Phillips curve, including the effect of changes in the natural rate of unemployment
It is the difference between actual and expected rates of inflation that influences unemployment. Unemployment rises when decision-makers overestimate the inflation rate. 

cxz0858

A

louzhuqued

ding

louzhuqued

t

zhangxie83

b

Riverview

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刀剑如梦

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gening

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盛夏的果实

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