The absolute value of the slope of the indifference curve is called the:

A rise in the price level

A) raises the buying power of money. B) decreases the prices of exports. C) lowers the buying power of money. D) increases aggregate demand. E) makes the aggregate demand curve steeper.

Most economists now agree that the Phillips curve demonstrates that there is

a. an unemployment-inflation trade-off in the long run, but not in the short run. b. an unemployment-inflation trade-off in both the short run and the long run. c. an unemployment-inflation trade-off in the short run, but not the long run d. no unemployment-inflation trade-off in either the short run or the long run.