Multiple Choice
Which one of the following statements is true about the Phillips curve?
A) The short-run Phillips curve is positively sloped while the long-run Phillips curve is vertical.
B) There is no empirical evidence to support the Phillips curve.
C) The short-run Phillips curve is negatively sloped while the long-run Phillips curve is vertical.
D) The Phillips curve is consistent with the Keynesian model but not the Classical model.
Correct Answer:
Verified
Correct Answer:
Verified
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