A vertical long-run Phillips curve:
A) is based on the classical theory of invisible hands
B) is consistent with money non-neutrality
C) implies that inflation and unemployment are independent of each other in the long run
D) none of the above
E) all of the above
Correct Answer:
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Q29: If the sacrifice ratio is 5 per
Q33: At points along the long-run Phillips curve:
A)
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A) a zero
Q36: If the long-run Phillips curve shifts to
Q37: The natural rate of unemployment is:
A)
Q38: See the graph below. In the short
Q39: According to Friedman and Phelps, policymakers _.
A)do
Q40: According to the theory of rational expectations,
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