During the 1960s and early 1970s, economists believed that the Phillips curve indicated
a. that higher inflation was the price for more unemployment.
b. that higher levels of employment could be achieved with lower inflation.
c. a menu of choices for policy makers.
d. All of the above are correct.
c
Economics
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The unfunded nature of the Social Security system has no effect on investment
a. True b. False
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Average costs curves initially fall
a. Due to declining average fixed costs b. Due to rising average fixed costs c. Due to declining marginal costs d. Due to rising marginal costs
Economics