Believers in the hypothesis of rational expectations argue that:
a. expansionary fiscal and monetary policy can reduce unemployment without creating inflation.
b. a trade-off exists between unemployment and inflation even in the long run
c. the Phillips curve is vertical even in the short run for expected changes in inflation.
d. the Phillips curve is downward sloping even in the long run.
c
Economics
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__________is business conducted over the internet.
Fill in the blank(s) with the appropriate word(s).
Economics
The above table shows a firm's
A) long-run costs. B) short-run costs. C) short-run and long-run costs. D) More information is needed to determine if the costs are long-run costs or short-run costs.
Economics