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What Did Friedman and Phelps Argue About the Relationship Between

Question 121

Multiple Choice

What did Friedman and Phelps argue about the relationship between inflation and unemployment?


A) The inflation rate is related to unemployment in the long-run.
B) The inflation rate is unrelated to unemployment in the long-run.
C) The inflation rate is related to unemployment in the short-run.
D) The inflation rate is unrelated to unemployment in the short-run.

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