The Idea That the Long-Run Phillips Curve Is

Multiple Choice

The idea that the long-run Phillips curve is

A) vertical stems from the analysis of Samuelson and Solow.
B) vertical stems from the analysis of Friedman and Phelps.
C) vertical was disproved by the experiment that monetary and fiscal policymakers inadvertently created in the 1970s.
D) downward-sloping can be correct if unemployment responds very quickly to unexpected inflation.