According to Friedman and Phelps, which of the following does not influence the economy's unemployment rate in the long run?

Question

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Friedman and Phelps both believe that in the long run, monetary growth does not have a significant influence on the rate of unemployment. Instead, they argue that factors such as the market power of unions and the role of efficiency wages have a greater impact on long-term unemployment rates.

According to Friedman and Phelps, Which of the Following Does