Multiple Choice
If employees and employers always accurately predict inflation, what is the shape of the Phillips curve?
A) It is horizontal in the short and long run.
B) It is vertical in the short and long run.
C) It is vertical in the short run and upward sloping in the long run.
D) It is downward sloping in the short run and vertical in the long run.
Correct Answer:
Verified
Correct Answer:
Verified
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