Multiple Choice
By about 1973,U.S.policymakers had learned that
A) Friedman and Phelps's analysis of inflation and unemployment had been correct.
B) the short-run Phillips curve shifts when expectations of inflation change.
C) there is no long-run trade-off between inflation and unemployment.
D) All of the above are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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