Economists initially viewed the Phillips curve as a structural relationship,meaning that the relationship between the two measured variables
A) can change only slightly over time.
B) can change greatly over time.
C) will not change over time.
D) will change in the short run but not in the long run.

Question

Quizplus · Accepted Answer

Initially, economists believed the Phillips curve represented a stable, long-term relationship between inflation and unemployment, implying it would not change over time.

Economists Initially Viewed the Phillips Curve as a Structural Relationship,meaning