Multiple Choice
Friedman and Phelps concluded that
A) in the long run the Phillips curve is downward sloping,which is consistent with classical theory.
B) in the long run the Philips curve is downward sloping,which is inconsistent with classical theory.
C) in the long run the Phillips curve is vertical,which is consistent with classical theory.
D) in the long run the Phillips curve is vertical,which is inconsistent with classical theory.
Correct Answer:
Verified
Correct Answer:
Verified
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