-Consider the Phillips curve in Figure 12.3.At point b,__________,and at point a,__________.
A)the economy is in recession;the economy is booming
B)the economy is in recession;the economy is in its long-run equilibrium
C)the economy is in recession;the economy is in recession
D)the economy is booming;the economy is in recession
E)the economy is in its long-run equilibrium;the economy is in recession

Question

-Consider the Phillips curve in Figure 12.3.At point b,__________,and at point a,__________.
A)the economy is in recession;the economy is booming 
B)the economy is in recession;the economy is in its long-run equilibrium 
C)the economy is in recession;the economy is in recession 
D)the economy is booming;the economy is in recession 
E)the economy is in its long-run equilibrium;the economy is in recession

Quizplus · Accepted Answer

The Answer of 
-Consider the Phillips curve in Figure 12.3.At point b,__________,and at point a,__________.
A)the economy is in recession;the economy is booming 
B)the economy is in recession;the economy is in its long-run equilibrium 
C)the economy is in recession;the economy is in recession 
D)the economy is booming;the economy is in recession 
E)the economy is in its long-run equilibrium;the economy is in recession

-Consider the Phillips Curve in Figure 12