One of the reasons why the Phillips curve is no longer viewed as a "menu" of possible choices available to policymakers is that
A) in the 1970s and 1980s there was no inflation at all.
B) analysis indicates there was no such "menu" in the 1960s.
C) in the 1970s and 1980s much inflation came from the supply side.
D) economic theory is unable to explain the curve and, therefore, it has been rejected.
Correct Answer:
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