The Milton Friedman - Edmund Phelps analysis of the Phillips curve
A) emphasized that it was fixed and that aggregate demand could be increased without causing the Phillips curve to shift to the right.
B) emphasized that an increase in aggregate demand would eventually cause expected inflation to increase, which would shift the Phillips curve to the right.
C) emphasized that an increase in aggregate demand would eventually cause expected inflation to increase, which would shift the Phillips curve to the left.
D) emphasized that an increase in unemployment would eventually cause expected inflation to increase, which would shift the Phillips curve to the right.
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