The lack of a long-run tradeoff between the unemployment rate and the inflation rate means the long-run Phillips curve is
A) downward sloping.
B) horizontal.
C) vertical.
D) upward sloping.
E) U-shaped, with higher inflation initially decreasing unemployment and then increasing it back to the natural unemployment rate.
Correct Answer:
Verified
Q41: The short-run Phillips curve is downward sloping
Q42: When the aggregate demand curve shifts rightward,
Q43: The short-run Phillips curve shows only a
Q44: The long-run Phillips curve shows the relationship
Q45: The expected inflation rate is the
A)same as
Q47: According to the natural rate hypothesis, in
Q48: Suppose an economy experiences a permanent increase
Q49: Moving--------------------the short-run Phillips curve is equivalent to
Q50: Changes in which of the following shift
Q51: The short-run Phillips curve shows a relationship
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