If the short run aggregate supply curve is flat,the Phillips curve will be
A)flat
B)steep
C)horizontal
D)upward sloping

Question

Quizplus · Accepted Answer

When the short-run aggregate supply curve is flat, it indicates that changes in aggregate demand do not lead to changes in the price level but can result in changes in output and employment. This situation corresponds to a flat Phillips curve, where inflation does not change much with unemployment, reflecting the lack of trade-off between inflation and unemployment in the short run under these conditions.

If the Short Run Aggregate Supply Curve Is Flat,the Phillips