What Did Friedman and Phelps Argue About Inflation and Unemployment

Multiple Choice

What did Friedman and Phelps argue about inflation and unemployment?

A) that in the long run, monetary growth did not influence those factors that determine the unemployment rate
B) that the Phillips curve could be exploited in the long run by using monetary, but not fiscal policy
C) that the short-run Phillips curve was very steep but the long-run curve was very flat
D) that there was neither a short-run nor long-run tradeoff between inflation and unemployment