The long-run Phillips curve:
a. is downward sloping.
b. is upward sloping.
c. shows there is no tradeoff between unemployment and inflation.
d. is horizontal at the natural rate of inflation.
c
Economics
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If actual aggregate expenditure equals aggregate planned expenditure, then
A) firms obtain the desired change in their inventories. B) there is never any change in firms' inventories. C) unplanned inventory changes are negative. D) actual aggregate expenditure might be greater than, equal to, or less than real GDP. E) unplanned inventory changes are positive.
Economics
Explain how a "conservative" and a "liberal" might differ in the types of policies they advocate to counteract a recessionary gap
Economics