Events of the 1970s and Early 1980s Showed That

Multiple Choice

Events of the 1970s and early 1980s showed that

A) the Phillips curve presents policymakers with a stable menu of choices.
B) cycles of unemployment and inflation rates appear to have gravitated around a 6 percent unemployment rate.
C) lower inflation rates are consistently accompanied by higher unemployment rates.
D) a tradeoff between inflation and unemployment may not always exist.
E) a and c