Most economists believe that a tradeoff between inflation and unemployment exists
A)only in the short run.
B)only in the long run.
C)in both the short and long run.
D)in neither the short nor long run.

Question

Quizplus · Accepted Answer

In the short run, there is a tradeoff between inflation and unemployment, often represented by the Phillips Curve. However, in the long run, this tradeoff does not exist as expectations adjust.

Most Economists Believe That a Tradeoff Between Inflation and Unemployment