Which of the following curves is (are) upward sloping?
A)both the long-run and the short-run Phillips curve
B)neither the long-run nor the short-run Phillips curve
C)only the long-run Phillips curve
D)only the short-run Phillips curve

Question

Quizplus · Accepted Answer

Both the long-run and the short-run Phillips curves are not upward sloping. The short-run Phillips curve is typically downward sloping, showing an inverse relationship between inflation and unemployment. The long-run Phillips curve is vertical, indicating no trade-off between inflation and unemployment in the long run.

Which of the Following Curves Is (Are) Upward Sloping