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In the Late 1960s,Milton Friedman and Edmund Phelps Argued That

Question 96

Multiple Choice

In the late 1960s,Milton Friedman and Edmund Phelps argued that


A) the trade-off between inflation and unemployment did not apply in the long run This claim is consistent with monetary neutrality in the long run.
B) the trade-off between inflation and unemployment did not apply in the long run.This claim is inconsistent with monetary neutrality in the long run.
C) the trade-off between inflation and unemployment applied in both the short run and the long run.This claim is consistent with monetary neutrality in the long run.
D) the trade-off between inflation and unemployment applied in both the short run and the long run.This claim is inconsistent with monetary neutrality in the long run.

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