If aggregate demand changes when aggregate supply is stable, then the Phillips curve is negatively sloped.
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Q248: The Phillips curve suggests that if we
Q249: The fact that the Phillips curve broke
Q250: Refer to the information provided in Figure
Q251: At the natural rate of unemployment, frictional
Q252: At the natural rate of unemployment, structural
Q254: The economy experiences both a _ price
Q255: An increase in inflationary expectations shifts the
Q256: As the unemployment rate declines in response
Q257: The unemployment rate and the level of
Q258: If the Phillips curve is vertical in
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