Ap Economics Short Run Philips Curve must-knows
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6 Terms
1
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Aggregate Demand Shifts Right
There’s an upward change along the SRPC
Inflation increases
Unemployment decreases
2
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Aggregate Demand shifts left
There’s a downward change along the SRPC
Inflation decreases
Unemployment increases
3
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SRPC shifts right (positive supply shock)
SRPC shifts down
Inflation decreases
unemployment decreases
4
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SRPC shifts left (negative demand shock)
SRPC shifts up
Inflation increases
unemployment increases
5
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Increase in Expected Inflation
SRPC shifts up
Inflation increases
Unemployment stays the same
6
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Decrease in Expected Inflation
SRPC shifts down
Inflation decreases
Unemployment stays the same
Note 
Flashcards (274)