The short-run Phillips curve shows that:
a. the economy can have low inflation and low unemployment simultaneously
b. the economy can have high per-capita income and high interest rate simultaneously.
c. a reduction in per-capita income comes at the expense of lower inflation.
d. a reduction in unemployment comes at the expense of higher inflation.
e. a reduction in inflation comes at the expense of lower exchange rate.
d
Economics
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Monopolistically competitive firms fail to fully realize their economies of scale.
Answer the following statement true (T) or false (F)
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