An economist working for the Central Bank of Fredonia estimates a Phillips curve for Fredonia and reports the following points on the estimated curve. 
Which of the following statements is correct?
A) These points are consistent with the theoretical long-run Phillips curve, but not with the short-run Phillips curve.
B) These points are consistent with the theoretical short-run Phillips curve, but not with the long-run Phillips curve.
C) These points are consistent with both the theoretical short-run and long-run Phillips curves.
D) These points are not consistent with either the theoretical short-run or long-run Phillips curves.
Correct Answer:
Verified
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