Politicians and economists who are generally conservative tend to believe that

Question

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Conservative politicians and economists often believe in the effectiveness of market mechanisms and the limitations of government intervention. They tend to view the short-run Phillips curve as relatively steep, indicating that any attempt to reduce unemployment through monetary or fiscal policy would lead to high inflation with little improvement in unemployment. This perspective aligns with a more classical view of economics, where the natural rate of unemployment is emphasized, and the trade-off between inflation and unemployment is considered unfavorable in the short run.

Politicians and Economists Who Are Generally Conservative Tend to Believe