Multiple Choice
Economists who argue that the AS curve is vertical in the long run at potential GDP also argue that the Phillips curve in the long run is
A) vertical at the natural rate of unemployment.
B) upward sloping.
C) downward sloping.
D) horizontal at the natural rate of inflation.
Correct Answer:

Verified
Correct Answer:
Verified
Q63: Refer to the information provided in Figure
Q64: The economy experiences both inflation and unemployment
Q65: Efficiency wages may lower employee turnover.
Q66: Refer to the information provided in Figure
Q67: If firms set wages too high, the
Q69: Refer to the information provided in Figure
Q70: Refer to the information provided in Figure
Q71: If the Phillips curve is _ in
Q72: Sally stopped looking for work six months
Q73: The labor force includes those people with