Which of the following is 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)the long-run Phillips curve,but not the short-run Phillips curve
D)the short-run Phillips curve,but not the long-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, while the long-run Phillips curve is vertical, indicating no trade-off between inflation and unemployment in the long run.

Which of the Following Is Upward-Sloping