The Simple Phillips Curve Model Was _____ with What Occurred

Multiple Choice

The simple Phillips curve model was _____ with what occurred during the Great Recession because:

A) consistent; the self-correcting mechanism was allowed to work.
B) consistent; the main flaws in the model did not apply to the situation.
C) inconsistent; the self-correcting mechanism was not allowed to work.
D) inconsistent; the main flaws in the model applied to the situation.