The U.S. government has tended to keep its deficit-to-GDP ratio significantly above 10 percent for the last 50 years

The short-run Phillips curve is ________, and the long-run Phillips curve is ________

A) downward sloping; downward sloping B) downward sloping; vertical C) vertical; downward sloping D) vertical; upward sloping E) upward sloping; vertical

How did Keynes propose to solve the problem of high unemployment?

A) Increase the growth rate of the money supply. B) Allow wages to decline, so that firms will want to hire more workers. C) Put on wage and price controls, so wages won't rise and firms won't have to lay people off to cut costs. D) Have the government increase its demand for goods and services.