Multiple Choice
If the Phillips curve was nearly horizontal, a:
A) substantial increase in inflation would be caused by a decrease in unemployment.
B) substantial decrease in inflation would be caused by a decrease in unemployment.
C) substantial decrease in unemployment could be achieved with only a small increase in inflation.
D) substantial increase in unemployment could be achieved with only a small increase in inflation.
Correct Answer:
Verified
Correct Answer:
Verified
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