Multiple Choice
Comparing the aggregate supply curve and the short-run Phillips curve, we see that they
A) each describe different parts of the economy.
B) both exist since money wages are flexible.
C) describe the same phenomena but contradict each other.
D) both exist because money wage rates are fixed in the short run.
E) both exist because real wage rates are fixed in the short run.
Correct Answer:
Verified
Correct Answer:
Verified
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