One Event That Undermined the Belief That the Phillips Curve

Multiple Choice

One event that undermined the belief that the Phillips curve represented a structural relationship was

A) the belief of Milton Friedman and Edmund Phelps that expected inflation remains constant.
B) the erratic behaviour of unemployment rates and inflation rates during the 1960s.
C) the extended period of time that both unemployment and inflation remained high during the Great Depression.
D) the increase in both the inflation rate and the unemployment rate in the 1970s.