24. The short-run Phillips curve shows the combinations of
a. unemployment and inflation that arise in the short run as aggregate demand shifts the
economy along the short-run aggregate supply curve.
b. unemployment and inflation that arise in the short run as short-run aggregate supply
shifts the economy along the aggregate demand curve.
c. unemployment and inflation that arise in the long run as aggregate demand shifts the
economy along the long-run aggregate supply curve.
d. real GDP and the price level that arise in the short run as short-run aggregate supply
shifts the economy along the aggregate demand curve.
e. None of the above are correct.
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