Multiple Choice
The inflation associated with the oil embargoes of the 1970s illustrated the _____ of the downward-sloping Phillips curve in the long run,as unemployment _____ during this period.
A) validity;fell
B) validity;rose
C) fallacy;rose
D) fallacy;fell
E) fallacy;did not change
Correct Answer:
Verified
Correct Answer:
Verified
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