【正确答案】 A

【答案解析】A short-run Phillips curve is constructed assuming a particular expected inflation rate, given a constant long-run Phillips curve at the natural rate of unemployment. Changes in the actual inflation rate or the short-run unemployment rate would represent movement along the short-run Phillips curve. If actual inflation is sustained above or below the expected inflation rate, inflation expectations adjust in the long run. This would be seen as a new short-run Phillips curve that intersects the long-run Phillips curve at the new expected inflation rate.