Multiple Choice
What did Friedman and Phelps argue about the relationship between inflation and unemployment?
A) The rate of inflation is related to unemployment in the long run.
B) Policymakers face a short-run Philips curve that is vertical.
C) The short-run unemployment rate is independent of the inflation rate.
D) Inflation and unemployment are unrelated in the long-run.
Correct Answer:
Verified
Correct Answer:
Verified
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