The long-run Phillips curve shows the relationship between ________ and ________ when the economy is at full employment.
A) the inflation rate;the unemployment rate
B) potential GDP;the natural unemployment rate
C) the natural inflation rate;the unemployment rate
D) the unemployment rate;real GDP
E) the inflation rate;the nominal interest rate
Correct Answer:
Verified
Q23: If aggregate demand decreases, the
A) short-run Phillips
Q24: In the long run, the unemployment rate
A)
Q30: The long-run Phillips curve is _ curve
Q33: In the short run, a decrease in
Q39: The lack of a long-run tradeoff between
Q40: The long-run Phillips curve shows the relationship
Q44: The long-run Phillips curve is a
A)straight line
Q45: The relationship between the AS-AD model and
Q46: At full employment,
A)the unemployment rate is zero.
B)the
Q50: If the economy moves upward along its
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