Econ 11. Consider the extended Philips Curve ∆πt= v ̃Y + o. Which of the following is false? (a) Cost-push inflation res

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Econ
11. Consider the extended Philips Curve ∆πt= v ̃Y + o. Which of
the following is false?
(a) Cost-push inflation results from an increase in o.
(b) Demand-pull inflation occurs when there is an increase in
̃Y .
(c) An increase in o would be represented by an upward shift in the
Phillips curve.
(d) An increase in the ̃Y term would be represented by a
left-ward shift in the Phillips curve.
12. The actual rate that the Federal Reserve targets is
(a) the average interest rate in the market.
(b) the 1-year Treasury bonds rate.
(c) the Federal Funds rate.
(d) the 10-year Treasury bonds rate.