Data from the United States and the United Kingdom show that the short-run Phillips curve exhibits
A) positive slopes in both nations.
B) shifts that occur every five years or so.
C) a great deal of shifting.
D) stability with shifts occurring only when there is an internal change of government.
E) stability with shifts occurring only when external forces are strong.
C
Economics
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In the long run, the supply curve
A) is more elastic than it is in the short run. B) is less elastic than it is in the short run. C) exhibits no systematic sequence of changes in elasticity. D) exhibits no change in elasticity at all.
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