Multiple Choice
In the long run ________.
A) the aggregate supply is vertical with respect to unemployment
B) the Phillips curve is vertical at a given level of expected inflation
C) the economy reaches the potential output level consistent with the natural rate of unemployment
D) all of the above
E) none of the above
Correct Answer:

Verified
Correct Answer:
Verified
Q1: _ may cause a shift of the
Q2: Observations of inflation in the 1970s prompted
Q4: Unprecedented stimulative policies throughout the global economy
Q5: The idea behind the Phillips curve is
Q6: If expectations about inflation are adaptive,they are
Q7: _ is (are)the endogenous variable(s)in the Phillips
Q8: The short-run aggregate supply curve shows that
Q9: Given the accelerationist Phillips curve Δπ =
Q10: What factors cause a shift in the
Q11: Which of the following never assumes,either implicitly