Multiple Choice
If the Phillips curve is vertical in the long run, then
A) there is a trade-off between inflation and unemployment in the long run.
B) the inflation rate will always be zero in the long run.
C) the unemployment rate will be zero in the long run.
D) there is no trade-off between inflation and unemployment in the long run.
Correct Answer:
Verified
Correct Answer:
Verified
Q248: Suppose that airline workers are laid off
Q249: Explicit contracts generally stipulate workers' wages for
Q250: When _, the price level falls, inventories
Q251: If aggregate demand changes while aggregate supply
Q252: Suppose that cruise ship employees are laid
Q254: The shape of the short run aggregate
Q255: Doug is currently not employed. He places
Q256: In the long run, the Phillips curve
Q257: If the measured unemployment rate is 8%
Q258: The theory which holds that productivity of