Milton Friedman argued that there
A) are two Phillips curves, a short-run one and a long-run one.
B) are three Phillips curves, a short-run one, a long-run one, and one in stagflation.
C) is one Phillips curve, and it is vertical.
D) is one Phillips curve, and it is nearly flat or horizontal.
A
Economics
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Repeated games can lead to tacit collusion
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If the Fed's policy is contractionary, it will
A) use open market operations to buy Treasury bills. B) use open market operations to sell Treasury bills. C) lower the discount rate. D) lower the reserve requirement.
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