In the Late 1960s,economist Edmund Phelps Published a Paper That

Multiple Choice

In the late 1960s,economist Edmund Phelps published a paper that

A) argued that there was no long-run tradeoff between inflation and unemployment.
B) disproved Friedman's claim that monetary policy was effective in controlling inflation.
C) showed the optimal point on the Phillips curve was at an unemployment rate of 5 percent and an inflation rate of 2 percent.
D) argued that the Phillips curve was stable and that it would not shift.