Multiple Choice
If the Phillips curve represents a "structural relationship," then
A) the trade-off between unemployment and inflation is permanent.
B) the trade-off between unemployment and inflation holds only for the short run.
C) the trade-off between unemployment and inflation holds in the long run,but not in the short run.
D) the Phillips curve will be vertical in the long run.
Correct Answer:
Verified
Correct Answer:
Verified
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