May/June 2026 Paper 32

2026 · 30 questions · 30 parts · 30 marks

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24Phillips CurveMedium1 mark
In the diagram, the curve shows an economy’s initial trade-off between inflation and unemployment.
diagram with rate of inflation on the vertical axis and unemployment rate on the horizontal axis, showing two downward-sloping curves that each cross the horizontal axis: curve X1 (nearer the origin) and curve X2 (further right, shifted outward from X1)
What does the shift of the curve from to show?