The long-run Phillips curve shows the relationship between the ________ and the ________ when there is no ________ unemployment
A) inflation rate; employment rate; seasonal
B) inflation rate; unemployment rate; cyclical
C) inflation rate; unemployment rate; structural
D) nominal interest rate; real interest rate; frictional
E) nominal interest rate; unemployment rate; cyclical
B
You might also like to view...
Refer to Figure 12-13. Suppose the prevailing price is P1 and the firm is currently producing its loss-minimizing quantity. In the long-run equilibrium
A) there will be fewer firms in the industry and total industry output decreases. B) there will be more firms in the industry and total industry output remains constant. C) there will be fewer firms in the industry but total industry output increases. D) there will be more firms in the industry and total industry output increases.
What are the primary arguments for and against the independence of the Fed?
What will be an ideal response?