The Phillips curve describes the relationship between real GDP and inflation.
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Q387: The short-run Phillips curve is vertical at
Q388: An increase in the natural unemployment rate
Q389: For a persistent demand-pull inflation to occur,
Q390: The new classical cycle theory views anticipated
Q391: The long-run Phillips curve is vertical at
Q393: The short-run Phillips curve intersects the long-run
Q394: A one-time increase in aggregate demand creates
Q395: Increases in the prices of raw materials
Q396: The long-run Phillips curve slopes downward.
Q397: The short-run Phillips curve intersects the long-run
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