Which of the following is downward-sloping?
A)both the long-run Phillips curve and the short-run Phillips curve
B)neither the long-run Phillips curve 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

The short-run Phillips curve is downward sloping, as it shows a trade-off between inflation and unemployment in the short run. However, the long-run Phillips curve is vertical, indicating that there is no permanent trade-off between inflation and unemployment in the long run.

Which of the Following Is Downward-Sloping