Comparing the AS-AD model and the Phillips curve, we see that
A) they both are graphed as a relationship between the rate of inflation and the unemployment rate.
B) the Phillips curve is graphed as a relationship between the price level and the unemployment rate.
C) the AS-AD model is graphed as a relationship between the inflation rate and the rate of real GDP.
D) the AS-AD model uses the price level and the Phillips curve uses the rate of inflation.
E) the AS-AD model uses the price level and the Phillips curve uses real GDP.
Correct Answer:
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Q1: Comparing the aggregate supply curve and the
Q3: Moving along the short-run Phillips curve, if
Q4: Along a short-run Phillips curve, the
A) short-run
Q5: Moving along the short-run Phillips curve, a
Q6: The short-run Phillips curve shows the relationship
Q7: During a recession, there is a _
Q8: The tradeoff exhibited by the short-run Phillips
Q9: The short-run Phillips curve shows the relationship
Q10: The natural unemployment rate and the expected
Q11: If the economy is at full employment,
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